Medibloc prices surged 123% over the last 24 hours as traders continued to pile money into alternatives coins.
Medibloc isn't a household name, but it was today's top performer in the space. While it's unclear why prices skyrocketed, the crypto startup has been generating buzz before the gains.
Forbes reported on advancements of South Korean startups in a Jan. 3 report and highlighted Medibloc as a startup to watch.
The project aims to streamline the medical-record business by putting customer data on a blockchain, where it can be transferred easier and more securely.
In Bitcoin news today, one of the biggest critics of the cryptocurrency changed his tune…
JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon reportedly regrets calling Bitcoin a "fraud" last year.
In an interview with Fox Business Network on today, Dimon said that he was optimistic about the potential of blockchain technology, but he still has some concerns.
Below is a recap of the top cryptocurrency prices at 10:00 a.m. EST.
- Bitcoin: $14,713.70, -0.77%
- Ethereum: $1,210.24, +11.77%
- Ripple: $2.33, -2.59%
- Bitcoin Cash: $2,399.88, +1.93%
- Cardano: $0.84, -1.27%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Cryptocurrency Markets Today
On Tuesday, the market capitalization of the global cryptocurrency sector hit $734.98 billion. Bitcoin comprises just 33.6% of the total crypto market.
Top performers from the largest 50 cryptocurrencies by market capitalization included WAX (up 69.8%), 0x (up 62.39%), Dent (up 59.35%), Ark (up 32.76%), Dragonchain (up 26.19%), Verge (up 25.83%), NEO (up 22.35%), and Augur (up 18.77%).
The worst performers from the top 50 largest cryptocurrencies by market capitalization included Dentacoin (down -14.97%), Populous (down -8.77%), TRON (down -4.14%), Ripple (down -2.59%), IOTA (down -1.80%), Status (down -1.36%), and Cardano (down -1.27%).
Just 15 of the top 100 cryptocurrencies by market capitalization were in the red Tuesday.
Ethereum Adds Another 11%
The price of Ethereum gained another 11% after its co-creator said Monday that its value could double or triple in 2018.
Steven Nerayoff said that the growth of Ethereum-based projects could fuel a situation where ETH overtakes Bitcoin as the largest cryptocurrency by market capitalization.
Will Millennials Start Buying Stocks Because of Bitcoin?
Millennials largely do not trust the stock market.
According to BankRate, just one in three millennials own stocks. Those who don't say that the market is too risky.
The Top 5 Cryptocurrencies to Invest in Today
On Monday, the company's chief market strategist told CNBC that cryptocurrencies will help attract non-traditional investors to the markets.
"People complain that we haven't gotten millennials to trade," J.J. Kinahan told CNBC.
"Maybe this isn't the product I'd like people to start with, but this is the greatest opportunity."
Is Blockchain Speculation "Cooling Off?"
Finally, in December, shares of Long Island Iced Tea Corp. surged more than 400% after the company announced plans to change its name to Long Blockchain Corp. (Nasdaq: LBCC).
At the time, the company announced plans to purchase 1,000 Bitcoin mining rigs after a large capital raise.
However, Wall Street has largely balked at giving the company more money for the initiative.
Though the firm plans to proceed with its rig-buying plans, it's unclear where the money will come from in the future.
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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.