Cryptocurrency Round-Up: Burning Man accepts bitcoin and Coinffeine's 'BitTorrent for Bitcoin'

• Bitcoin Price: $331.05 (£212.34, €270.53, via CoinDesk.com)

Bitcoin has enjoyed a brief period of relative stability, shifting in value by less than 0.1% since yesterday.

Litecoin, often referred to as the silver to bitcoin's gold, experienced similarly modest movement over the last 24 hours with a price gain of around 0.3%.

Most other major cryptocurrencies fared less well, as dogecoin, peercoin, darkcoin and namecoin all slipped by between 2% and 3%.

Burning Man accepts bitcoin

Burning Man, which takes place annually in Nevada's Black Rock Desert, has announced that it is to start accepting bitcoin donations to help spread the reach of the festival.

"Donations will help provide more grants, training and support to creators of radically interactive art and events on and off the playa," said Marian Goodell, CEO of Burning Man.

Goodell added that the donations would also be used to "fund civic programs, teach communities the power of collaboration, strengthen (Burning Man's) infrastructure and make the Burning Man experience accessible year-round."

Coinffeine trials 'BitTorrent for bitcoin'

A Spanish bitcoin startup has developed an innovative new cryptocurrency exchange that allows users to buy and sell bitcoins without the need of a central entity.

Coinffeine is described by its creators as the the "BitTorrent for bitcoin", as it is the first decentralised marketplace for bitcoin.

"(We are) sure that the software supposes a before and an after in the international bitcoin ecosystem," said Alberto Gómez, CEO of Coinffeine.

"Coinffeine is a technology that serves as a perfect framework where banks can meet the future world of finance brought on by the cryptocurrencies."

The launch of the public Beta version is expected in early 2015.