Today In Cryptocurrency: Ripple Gives $50M To University Blockchain Projects, Estonia Denies Report Of A National Crytpo

The cryptocurrency market got off to another lackluster start to the week Monday, with most major cryptocurrencies trading lower by more than 2 percent. Here’s a look at some of the headlines that were moving the cryptocurrency market today — and which currencies were on the move.

Headlines

Estonia now says it never planned to launch its own national cryptocurrency. A spokesperson for the Estonian government said Monday a Bloomberg report that the nation is “scaling down” plans for a national cryptocurrency is inaccurate and that Estonia has only discussed the potential use of crypto tokens as a part of its e-residency identification program.

Ripple has donated $50 million to several top universities as part of an initiative to encourage blockchain technology development. The University Blockchain Research Initiative will partner with 17 schools, including the University of North Carolina, the University of Pennsylvania and MIT, to develop technology related to blockchain, digital payments and cryptocurrency.

Apple, Inc. (NASDAQ: AAPL) co-founder Steve Wozniak said Monday that he hopes Twitter, Inc. (NYSE: TWTR) CEO Jack Dorsey is right about bitcoin ultimately becoming the single global currency. Wozniak said he likes the idea of the purity of bitcoin, but that he doesn’t necessarily believe it will ultimately replace global currencies. Wozniak once purchased bitcoin for himself at a price of $700 per coin, but said he only wished to experiment with the currency and not invest.

Price Action

The Bitcoin Investment Trust (OTC: GBTC) traded at $11.99, down 0.9 percent.

Here’s how several top crypto investments fared Monday. Prices are as of 3:45 p.m. ET and reflect the previous 24 hours.

• Bitcoin declined 2.5 percent to $7,512;
• Ethereum declined 3.7 percent to $592;
• Ripple declined 1.1 percent to 65 cents;
• Bitcoin Cash declined 4.8 percent to $1,104;
• EOS declined 6.3 percent to $13.65.

The three cryptocurrencies with at least $1-million market caps that have made the biggest gains over the past 24 hours are:

• BunnyCoin: $2-million market cap, 54.7-percent gain.
• MagicCoin: $3.3-million market cap, 24.8-percent gain.
• Vsync: $2.1-million market cap, 24.6-percent gain.

The three cryptocurrencies hit hardest in the past 24 hours were:

• Sumokoin: $2.3-million market cap, 47.3-percent decline.
• Zeitcoin: $2.8-million market cap, 31.5-percent decline.
• Callisto Network: $12.7-million market cap, 22.7-percent decline.

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