The developers behind Pac-Man and Pong are planning to launch their own token in the near future.
The so-called "Atari Token" is part of a deal between the iconic video game company and a Gibraltar-based firm called Infinity Networks.
This is actually the second time that Atari has had an "Atari Token." The first iteration was designed for in-game purchases.
However, the new one has a bit more of an ambiguous purpose…
"Our aim is to take strategic positions with a limited cash risk, in order to best create value with the assets and the Atari brand," the company said in a statement.
Below is a recap of the top cryptocurrency prices at 12:00 p.m. EST.
- Bitcoin: $10,107.50, +2.76%
- Ethereum: $936.02, -0.03%
- Ripple: $1.14, +0.45%
- Bitcoin Cash: $1,518.34, +11.64%
- Litecoin: $230.39, +3.42
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 $480.36 billion.
Bitcoin represented 35.5% of the total cryptocurrency market, with a market capitalization of $170.5 billion.
The best performers from the top 50 largest cryptocurrencies by market capitalization included Populous (up 16.08%), Nano (up 14.20%), 0x (up 13.30%), OmiseGo (up 11.66%), Bitcoin Cash (up 11.64%), Vechain (up 9.21%), Electroneum (up 8.21%), and Bitcoin Gold (up 7.31%).
The worst performers from the top 50 largest cryptocurrencies by market capitalization included Revain (down -12.61%), Dogecoin (down -6.40%), Vertiaseum (down -6.40%), RChain (down -4.74%), Komodo (down -4.48%), Maker (down -1.07%), and Hshare (down -1.05%).
Bitcoin Prices Stay Above $10,000
The price of Bitcoin stayed above $10,000, a critical psychological point that could attract new capital back into the world's largest cryptocurrency by market capitalization.
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Comedian Ellen DeGeneres chimed in on Bitcoin during her talk show Thursday. In an attempt to explain Bitcoin to her audience, she accurately portrayed the confusion around cryptocurrencies.
"Everybody is talking about Bitcoin, nobody understands it," she said.
"It's like a plot twist in a confusing movie, when you're watching a movie and your friends are acting like they know what's going on, and you're like, 'Yeah, I do too.'"
DeGeneres concluded that Bitcoin would leave investors with one of two paths. "Basically, if you invest in Bitcoin, you'll either be a millionaire or you'll be totally broke," she said.
Litecoin Continues to Rally
The price of Litecoin pushed above $230 as markets prepare for the Litecoin Cash (LCC) hard fork on Sunday, Feb. 18. Despite claims that the new Litecoin Cash is a scam by LTC founder Charlie Lee, the development team behind the new currency will proceed as planned.
CFTC Warns About Pump and Dumps
Not long after the Commodity Futures Trading Commission (CFTC) advised U.S. regulators to tread lightly on cryptocurrency exchanges, it had a strong warning to investors in the sector.
On Thursday, the agency warned crypto traders about the rise and dangers of "pump-and-dump" schemes.
The CFTC has joined the SEC in encouraging investors to research ICOs thoroughly before investing in the latest fad.
This week, we witnessed a notable pump scheme by third parties of U.CASH.
The price of U.CASH surged more than 100% on Monday only to crater back down to earth by the end of the week.
Regulations Still Unclear
On Friday, White House cybersecurity coordinator Rob Joyce told CNBC that the U.S. government is nowhere close to regulating Bitcoin.
Joyce parroted concerns made by U.S. Treasury Secretary Steven Mnuchin on the use of Bitcoin in criminal activities around the globe.
Joyce was especially concerned about the lack of a paper trail when Bitcoin transactions take place.
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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.