Bitcoin (BTC) prices climbed 0.69% today even though Alibaba Group Holding Ltd. (NYSE: BABA) Chair Jack Ma has tried to take BTC down a peg.
The Chinese billionaire called the cryptocurrency a potential bubble and raised concerns about price volatility.
Of course, he may have a big reason for trying to discredit Bitcoin....
BABA affiliate Ant Financial Services Group recently launched blockchain-based money transfers between the Philippines and Hong Kong, according to a June 25 South China Morning Post report.
Filipinos working in Hong Kong collectively annually remit $561 million to family and friends back home.
The Ant Financial service appears to just be utilizing blockchain technology and not settling payments with a crypto coin.
However, it could be the first step before the Chinese tech giant introduces its own cryptocurrency.
And Ma would obviously rather have you use his coin than Bitcoin...
Here is a recap of the top five cryptocurrencies by market cap as of 9 a.m. EST:
| Cryptocurrency | Market Cap | Price | Change (24h) |
| Bitcoin (BTC) | $106,474,386,405 | $6,220.57 | +0.69% |
| Ethereum (ETH) | $45,229,347,754 | $450.87 | -2.26% |
| Ripple (XRP) | $18,777,484,508 | $0.47 | -0.78% |
| Bitcoin Cash (BCH) | $12,795,813,855 | $743.75 | -1.38% |
| EOS (EOS) | $7,236,201,035 | $8.07 | -0.76% |
Now here's a closer look at today's Money Morning cryptocurrency insight, the most important cryptocurrency updates you need to know...
Adapting the blockchain to make businesses more efficient will be one of the greatest profit opportunities of the 21st century.
And the best stocks in the space are surprisingly familiar names.
If You're Not Making Millions of Dollars with Cryptocurrencies... you could be. Click here to discover the coin that will soon be BIGGER THAN BITCOIN... and how to claim YOUR cryptocurrency fortune while you still can.
Here are the five companies at the forefront of this coming blockchain boom...
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