10/10/2020, 11:52 AM (Source: TeleTrader)
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Bitcoin extends gains as China tests digital yuan

The prices of cryptocurrencies surged on Saturday following the news that China's central bank is set to test its digital currency by randomly dispersing 50,000 "red packets" worth 200 yuan next week.

Meanwhile, other major central banks worldwide have recently been also discussing options for introducing digital currencies prompted by the cryptocurrencies' expansion. The markets are also driven by optimism regarding new stimulus talks in the United States.

Bitcoin soared 4.28% to $11,363.96 over the last 24 hours, while Ether jumped 6.76% to reach $372.68 at 5:35 am ET.

Breaking the News / ND