Cloud-Based Management System Coming for Volatile Cryptocurrency Market

On Sunday bitcoin rebounded a bit after the previous day's fall. It rose nearly 1%, rising above $7,000 per coin. Other cryptocurrencies did even better on Sunday, with some rising as much as 7%. Bitcoin is currently trading at $7,040 after falling to nearly $6,900 the day before, which was a low it had not seen since the middle of July. The leading digital currency has now lost more than 14% of its value in the past week, though for the month it is still up almost 8%. Ethereum did a bit better than bitcoin on Sunday. It rose 1.76%, and is currently trading at $412. The second most popular cryptocurrency still lost about $50 this week, which represents a loss of 11.35%. Unlike bitcoin, Ethereum is down for the month as well, having lost 11.66% of its value during this period. The alternative coin that did the best yesterday was IOTA. It rose 7.21% and is currently trading at $0.91. Also rising significantly was Ethereum Classic, which rose 7.17% to trade at $17.44. It has actually been doing well since Friday, when it was announced that Coinbase — one of the top cryptocurrency exchanges in the United States — would be offering the currency beginning Tuesday. Cardano did well, too, on Sunday. It rose 3.66% and is trading at $0.13. On Sunday, the total market value of all digital currencies stood at $257.2 billion, which is $5 billion more than it was the day before. Still, the total cryptocurrency market has lost around $50 billion in value since the market surge late last month. While cryptocurrency markets have been up and down this week, the market received some positive news. The Intercontinental Exchange (ICE), which operates the New York Stock Exchange and 22 other global trading exchanges, announced that it would be developing a cloud-based system for managing digital assets, which would function across many types of markets. The ICE also announced that it will be offering bitcoin future contracts this November that would not require cash settlements, assuming that the U.S. Commodity Futures Trading Commission approves it.