Litecoin prices today pushed closer to $230 per coin thanks to bullish statements from creator Charlie Lee and the launch of LitePay.
Over the weekend, Lee tweeted his belief that Litecoin (LTC) could surpass Bitcoin Cash (BCH) in market capitalization in 2018. Currently, BCH has a market cap of $21 billion, while LTC has a market cap of $12 billion.
In addition, markets appear bullish about the LitePay platform, which will allow businesses to accept Litecoin as payment for products and services.
To learn more about why this is such a game changer, make sure to read this report.
In Bitcoin news, the price climbed nearly 8% over the last 24 hours.
Part of the uptick came thanks to Coinbase introducing support for Segregated Witness (SegWit) payments.
This new support is designed to reduce the cost of Bitcoin transactions.
Below is a recap of the top cryptocurrency prices at 10:30 a.m. EST.
- Bitcoin: $10,270.70, +7.99%
- Ethereum: $877.41, +5.90%
- Ripple: $0.96, +4.09%
- Bitcoin Cash: $1,244.26, +7.53%
- Litecoin: $226.67, +7.95%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Cryptocurrency News Today
On Monday, the market capitalization of the global cryptocurrency sector hit $451.99 billion.
Bitcoin represented 38.6% of the total cryptocurrency market, with a market capitalization of $174.6 billion. Cryptonex (CNX) was the top performer among the largest 100 cryptocurrencies.
CNX surged more than 50%, although there didn't appear to be any significant reason for the rally.
The best performers from the top 50 largest cryptocurrencies by market capitalization included Nano (up 20.89%), Gas (up 20.69%), Qtum (up 18.14%), DigixDAO (up 17.45%), NEO (up 15.95%), ICON (up 10.95%), Binance Coin (up 10.05%), and Electoneum (up 9.65%).
The worst performers from the top 100 largest cryptocurrencies by market capitalization included ZClassic (down -7.47%), Kin (down -4.73%), Bitcore (down -3.06%), VeChain (down -0.99%), and PIVX (down -0.47%).
Only five of the top 100 cryptocurrencies finished in the red on Monday.
Steve Wozniak Loses Seven Bitcoins
Apple Inc. (Nasdaq: AAPL) co-founder Steve Wozniak revealed that a scammer stole seven bitcoins from him.
That lost investment is now worth more than $70,000.
Must Read: What's the Best Cryptocurrency to Buy?
Wozniak said that he sold seven coins to a scam artist who had used a stolen credit card.
Circle to Purchase Poloniex
A key acquisition announcement may have spurred additional buying excitement across the broader cryptocurrency space.
Cross-border crypto exchange Circle announced that it will purchase digital asset exchange Poloniex.
A company statement today confirmed weeks-old rumors of a possible deal between the two companies.
Circle, is backed by Goldman Sachs Group (NYSE: GS). In 2015, the iconic investment bank led a $50 million funding round.
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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.