Litecoin prices surged nearly 30% today to an all-time high, as alternative coins showed solid gains across the cryptocurrency space.
Investors were still phased by Bitcoin prices fluctuating wildly on Coinbase and the site crashing yesterday (Dec. 8, 2017).
Crypto Asset Management Director Tim Enneking told Forbes that Litecoin is "absolutely cruising in BTC's wake!"
This weekend, the Chicago Board of Exchange will launch Bitcoin futures trading for the first time ever. Citigroup Inc. (NYSE: C) and JPMorgan Chase & Co. (NYSE: JPM) announced that they will not take part in clearing Bitcoin futures transactions for clients.
However, Goldman Sachs Group (NYSE: GS) – always eager to make a dollar from clients – announced it will take part in the frenzy starting next week.
Below is a recap of the top cryptocurrency prices at 1:30 p.m. EST.
- Bitcoin: $15,919.30, -3.05%
- Ethereum: $464.99, +7.54%
- Bitcoin Cash: $1,477.09, +9.58%,
- IOTA: $4.64, +24.09%
- Ripple: $0.251, +10.86%
- Litecoin: $125.20, +29.87
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Cryptocurrency Markets Today
On Friday, the market capitalization of the global cryptocurrency sector hit $427.10 billion. Bitcoin now comprises 62.1% of the global cryptocurrency market.
Top performers from the largest 50 cryptocurrencies by market capitalization included NEM (up 65.68%), Populous (up 44.82%), Steem (up 24.86%), Nxt (up 19.70%), IOTA (up 19.31%), Veritaseum (up 18.44%), Decred (up 10.29%), Ripple (up 10.26%), and Dash (up 9.75%).
The worst performers from the top 50 largest cryptocurrencies by market capitalization included Stratis (down -9.47%), Komodo (down -6.18%), Dogecoin (down -4.73%), BitConnect (down -4.59%), QASH (down -4.42%), and Waves (down -3.81%).
Hackers Steal $78 Million in Bitcoin
Add another cryptocurrency site to the victim list…
Yesterday, hackers hit Slovenia-based crypto-mining platform NiceHash and stole $78 million in Bitcoin. The platform allows users to mine various cryptocurrencies and receive Bitcoin in exchange.
The firm instructed users to change their passwords while they investigate the cyber breach.
Litecoin Prices Hit All-Time High
Yesterday, Litecoin founder Charlie Lee announced that he will appear on Squawk Box on Monday, Dec. 11, to discuss Bitcoin's recent surge and the benefits of Litecoin.
Litecoin supporters are making more efforts to market the coin and show its value to mainstream audiences.
APMEX Takes Bitcoin
Ahead of this weekend's launch of Bitcoin futures, one of the world's largest online gold dealers has announced it will accept Bitcoin for payments.
The company said that it will offer a discount for users who make purchases with Bitcoin, in order to drum up interest in the markets.
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.