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Litecoin prices are sliding today – tumbling 4.35% – in the wake of the $530 million hack of Coincheck, but a new rumor about a mega-crypto merger could reverse the slide…
We'll cover the potential merger rumor in a bit, but cryptocurrency prices were sliding across the board today.
At least one reason for the slide is the prospect of tighter regulations in Asia. Japan's Financial Services Agency announced it may conduct on-site inspections to its local cryptocurrency exchanges.
And on the domestic side, Bitcoin prices slipped after the so-called "Robinhood Rally" ended. Bitcoin had been rising in recent days due to news that mobile investing app Robinhood announced it was adding Bitcoin and other cryptocurrencies to its exchange. The news raised hopes that more millennials would pour into the crypto markets. Robinhood's new crypto platform will be unveiled in February.
Below is a recap of the top cryptocurrency prices at 3:30 p.m. EST.
- Bitcoin: $11,317.20, -3.86%
- Ethereum: $1,181.61, -4.28%
- Ripple: $1.34, +0.87%
- Bitcoin Cash: $1,664.31, -4.07%
- Cardano: $0.62, -5.69%
Here's what else we're seeing in cryptocurrency markets today, including a rumored merger between Litecoin and another popular crypto…
Cryptocurrency Markets Today
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.