Category Archives: Altcoin
A new project called UnitedBitcoin (warning: the site autoplays audio) promises to add smart contract features using the UTXO model, support for the lightning network and SegWit, and eight-megabyte blocks. Headed up by Jeff Garzik, the lead developer behind the failed SegWit2x hard fork, along with Matthew Roszak and SongXiu Hua, this UnitedBitcoin (UB) hard fork will offer replay protection to prevent people from accidentally spending their coins on both the Bitcoin and the UnitedBitcoin blockchains.
Garzik told Bitcoin Magazine that 10% of the total worldwide SHA-256 hash power has moved to the new UB network, with much of the support coming from China and older mining equipment that was no longer profitable due to the escalating difficulty in mining bitcoin. He noted that UB is already supported on the ZB and EXX exchanges.
The UB white paper outlines how lost bitcoins have created deflationary pressure that has pushed the price up. Because those bitcoins are out of circulation, the supply is further decreased. One of the issues that UB seeks to address is to find a purpose both for those lost bitcoins and for inactive wallets by creating a stable cryptocurrency linked to their addresses.
All active Bitcoin addresses will receive the same balance on the UB chain, much like previous forks. The balances of UB on inactive addresses, however, will be confiscated by the UB Foundation and used to serve the community.
Inactive addresses are defined in the white paper as addresses without activity since block height #494000 (November 11, 2017) and as a result didnt automatically receive UBTC during phase 1 of the asset allocation procedure.
UB does not distinguish between an inactive address and one which is simply being used by a long-time “hodler.”
There is no difference. An inactive account is an inactive account, said Garzik. Like during [the] Ethereum new coin creation, you had to take a proactive step, otherwise you got zero [ether]. This is normal for new token creation new chain, new ERC20, but different from all other Bitcoin Forks. We are trying to do something new and different.
Anyone with a prior balance of 0.01 BTC in an inactive address at the time of the November 11 fork can still get UB tokens, so long as they are willing to take such a proactive step: that is, they make at least one transfer to their own Bitcoin address between Block 498,777 and Block 501,878 (December 12, 2017, to 12:00 GMT on January 3, 2018).
Only the original address can make the transfer to itself, and the receiving address must be used as one of the sending (input) addresses.
One privacy issue to consider is that in order to proactively claim BU tokens, the protocol forces users to reuse their Bitcoin addresses; this action puts privacy at risk and, unless it is done carefully, may link many of the users coins together.
User privacy protection is not the only part of the protocol that is drawing criticism, however.
The code contains a god mode; its literally called that, Blockchain developer Sjors Provoost said to Bitcoin Magazine. He said that it appears as if this god mode will create a multisignature address that belongs to a (yet-to-be-defined) UnitedBitcoin Foundation.
Unlike previous airdrops, the initial coin distribution is not determined by a consensus rule, he added. This means that even if you were to run the full UB node software (which you should not), you will have no way of knowing for sure how many coins you get. Conversely, if you already had bitcoin, you wont know how many of your coins will be confiscated. You simply have to trust their promise to take and redistribute coins as their marketing promises.
According to Provoost, the new consensus rule allows the owner of this foundation address to spend any UTXO they want. These confiscations will be included in holy blocks, which can be created during the first 500 blocks after the fork. This is how they implement the redistribution as I just described, but they can do much more.
Furthermore, Provoost is concerned about the quality of the code itself. Garziks previous project SegWit2x tried to keep its changes relative to Core to a bare minimum. Although at the time of the planned fork their code base was about a year behind Bitcoin Core, it didnt introduce many changes, he pointed out.
UnitedBitcoin on the other hand has introduced far more changes, making the task of tracking Bitcoin Core far more difficult. Its not as many changes as Bitcoin Unlimited and Bitcoin Cash, and the problem is somewhat mitigated by them sunsetting the more complicated consensus changes like god mode. However, even the small change in SegWit2x had a widely publicized serious bug in it and there are rumors of more.
Garzik has plans to build a better Tether by using the UB reserve, funded by coins reclaimed from inactive addresses. According to the project, 70 percent of confiscated UB coins will be held as collateral to issue stable tokens pegged to a fiat currency.
The UB reserve can be used as a backing asset for a stable, non-volatile currency, said Garzik. This is auditable and transparent and on the blockchain. It will be over-collateralized, 200300% to maintain the stability even in the face of a volatile price of the reserve.
The remaining 30 percent of the confiscated coins will support another new feature: owners of QTUM, H-shares and ether will receive a share of the remaining redistributed UB.
According to Garzik, the specific claim process for the redistribution of UB has yet to be determined. The UB board is still being put in place things are moving very fast and this will include more specifics on governance and community allocations.
The scheduled timeline of what has been released and what is coming breaks down as follows:
Fork of Bitcoin to UnitedBitcoin (at block height #498,777) with support for:
Bitcoin is the best known cryptocurrency at this moment, also called virtual money. Bitcoin is decentralized, this means there is no owner or central control. Transactions in the Bitcoin network are sent in a cryptographic form and processed by miners using computers and specialized hardware with huge calculating power.On this page the following subjects will be described:
How does the Bitcoin network work?What is an altcoin?Advantages of crypto currenciesCompare hardware wallets
The Bitcoin netword is based ona blockchain, an administration of all transactions between the different bitcoin addresses. Every 10 minutes a new block will be created, containing all transactions of these 10 minutes plus the previous block. Every transaction will exist forever (as long as the blockchain exists).
Along with the information of the transaction, other information can be added in a block. It is not possible to change or delete this information. Adding information will create many interesting user posibilities, which do not exist in other payment methods.
Bitcoins can be mined by using special hardware to translate encrypted codes. These codes represent all transactions in a block, and the miner who finds the block first will be rewarded with an amount of bitcoins (currently 12,5). The financial effort you have to put into mining, like costs for electricity and hardware, is called proof of work.
This makes the bitcoin blockchain super secure, because to alteror delete something in the blockchain you will have to input a greater proof of work than all of the current miners together. At that moment the total computing power (hash power) that is mining on the Bitcoin network is so incredibly huge, that for a single person, company, or even government, it is impossible to deliver more hash power to over ride the current mining operation.
Besides finding new blocks, miners will also earn on transaction fees. The most amount of bitcoins that will ever be found is limited to 21 million, and they will be harder to find because every four years the mining reward will be reduced by fifty percent. The value of bitcoin will not be affected by dilution, because the supply is limited. That understood, bitcoin can be a profitable investment in times of quantitive easing and you can store them safely on a hardware wallet.
Besides bitcoins, there are many altcoins on the market. An altcoin (alternative coin) is a virtual coin, same as bitcoin, based on cryptography. There are hundreds of different alt coins available and most of themhave the goal to become an improved version of Bitcoin.The best known alt coins are Ethereum, Lightcoin, Zcashand Monero, and are designed with a focus on a specific application. Some of these coins are certainly interesting, but the grand question is will they win the race with Bitcoin to become the most dominant coin. Bitcoin is by far the most famous and accepted coin. All the hardware wallets are also supporting some alt coins.
Cryptocurrencies like Bitcoin contain big advantages compared to fiat money. A Bitcoin wallet is anonymous and so you dont have to provide your name and address. As long as you own the public key of the wallet, you have the power over the bitcoins you own.
Furthermore the transaction costs are extremely low and there is no 3rd party able to cancel your transaction. In a short period of time you can send an unlimited amount of money all over the world. Also, small payments are possible with Bitcoin, creating many new possible applications.
Maybe the most promising application, not known by many people yet, is the ability to add information into the blockchain. For example, you can make a house payment and directly register the ownership in the blockchain. Besides ownership you can also register other things like your identification.
In the future, Bitcoin and blockchain technology will create applications like smart contracts and automated payments between machines, changing the status quo. In addition, crowd funding will be raised to a new level.Bitcoin use can apply to many financial functions like store of value (gold, silver), hedging against crashes of stocks, other financial products, and of course, just as a payment system.
What is a hardware wallet?
Everything about security of your bitcoins.
Trezor wallet reviewed.
Ledger wallet reviewed.
Keepkey wallet reviewed.
Altcoin.io is a decentralized cryptocurrency exchange that aims to offer better service than todays biggest exchanges. Find out how it works today in our review.
Altcoin.io is a cryptocurrency exchange thats currently in development. The exchange aims to be the first decentralized exchange built by traders, for traders.
As the name of the website suggests, Altcoin.io focuses on altcoins which typically refers to any coins that arent bitcoin:
Altcoin.io’s mission is to bring the entire altcoin community together to build something greatwith the purpose of bringing this market out of the shadows with transparency, trust, and honesty, explains the official website.
You can view screenshots of the exchange online at Altcoin.io. Those screenshots show BTC, ETH, XMR, and USDT as the four major markets currently available through the platform. In the Bitcoin market, youll see ETH, XRP, BCH, LTC, DASH, XEM, XMR, MIOTA, and ETC, among other altcoins.
Overall, the Altcoin.io website has limited information about the project. However, you can submit your email address to the website to receive early access to the platform at some point in the future. Its not clear when the platform will be released.
Theres limited information about the exchange available online. Aside from a few screenshots and bullet points, we dont have much information about the exchange or how it will work. Theres no whitepaper. However, here are some of the key features that have been mentioned on the website so far:
Altcoin.io aims to provide better transparency than other exchanges. Today, the cryptocurrency space is filled with markets that are difficult to navigate. The altcoin space contains companies with limited business experience, yet find themselves in charge of cryptocurrencies with enormous market caps. Altcoin.io aims to bring a new approach to this industry that is both transparent and provides the best customer support in the business.
Altcoin.io plans to create an unparalleled user experience compared to other exchanges available today.
Like all exchanges, Altcoin.io emphasizes security. Their exchange is decentralized, so theres no centralized system to attack.
Altcoin.ios advisors include active cryptocurrency traders.
The Altcoin.io website isnt totally clear about whos running the company. The website features a subheading for Team, Investors, & Advisors. No specific positions are listed under that heading, although about 10 different people are listed.
Some of those people include Andrew Gazdecki, the current CEO of Bizness Apps; Alan Ezeir, a serial entrepreneur with multiple technology exits; Nick Pizpie Cote, an industry expert who has been trading bitcoin full time since 2013; and CryptoBull, a bitcoin investment analysis platform.
There isnt much to say about Altcoin.io at this point in time. The website features a basic overview of the companys broad goals for the platform. Theres no specific information available, and the platform seems to be in the early stages of development. We dont have a whitepaper, and the team section of the website makes it difficult to determine whos involved with the project and whos just an advisor.
Despite the lack of information, Altcoin.io lets users sign up for early access at Altcoin.io. Its unclear when the exchange will be available for early access.
In any case, you can learn more about the future cryptocurrency exchange by visiting online today at Altcoin.io.
I’d like to get ya’lls take on what’s going on with ZCL this week. Please give me some feedback this is a collection of my thoughts and others’ – I’ve invested a good chunk of my portfolio with a time horizon of 30 days and want valued input on the logic.
ZClassic is moving through the elliot wave cycle and is growing nicely. Read below and you’ll see why it could 50x from here in the next month. As always please DYOR.
As of now $62 mil market cap. Around $33 or .00250 sats it’s holding up and accumulating and ready for the next leg up despite a very bloody market today which is a GREAT sign. 🙂
Somewhere between mid and late January there will be a fork of BOTH Bitcoin and ZClassic, combining into Bitcoin Private. Owning either bitcoin or zcl will get you 1:1 Bitcoin Private.
Most privacy coins have a couple billion dollar market cap Verge, Monero, Zcoin.
60 mil X 100 is $6 billion
Bitcoin forks can be worth some money. For instance, bitcoin diamond was worth $40. Bitcoin gold was worth $350, BCH is worth $3,000. Not only will people want free money but if you own a couple hundred ZCL, this could be super profitable!
Bitcoin Private won’t be premined (like this fake B2X bitcoin fork today) and looks to be extremely promising. Roughly 18.5 million coins total and a current projection of $300 / coin for 2018.
For the first time you have a hard fork off a zero knowledge proof chain, as well as BTC, but Zclassic is 0.2% the price of BTC. From the innovative investors perspective, the buy in price for BTCP (the fork chain) is tremendously cheaper with Zclassic. In fact it is so surreal at the moment that it wont last long. And BTCP is leveraging same mining tech as BTCG, so the miners are already there and ready to go. Zk snarks will continue on BTCP as well.
Seems to me this is a no brainer to buy in now.
What is Bitcoin private? Bitcoin private is a hard fork of BTC and ZCL. BTCP will have the same privacy technology as ZCL (zk-snarks). This means payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.
When is the hard fork date? End of January.
How will BTCP be distributed? If you have 1 ZCL, you keep 1 ZCL and get 1 BTCP, if you have 1 BTC (at $16k cost currently), you keep your BTC and get 1 BTCP
What is going to happen to ZCL after the hard fork? It will still exist, though we are unsure how its development will continue as of right now
Is there a premine or a founders reward? No
Disclaimer I am an investor in the project, and it is to my benefit that the project succeeds. That said I love community projects and privacy coins, so the project itself has huge potential regardless of price dynamics.
Blockfolio offers complete Bitcoin and Altcoin cryptocurrency management, with easy to use tools to keep track of all your crypto investments. Get detailed price and market information for individual currencies and your entire portfolio all in one place.
Highlights of Blockfolio:
– Portfolio Overview: View all your cryptocurrency investments at once, and find detailed information on each coin.
– Price Notifications: Use alerts to get notified immediately when the price crosses a certain threshold.
– Charts and Orderbook: Candlestick charts, orderbook, and market details for every coin.
– Latest News Stories: Stay up to date with the latest Bitcoin and Altcoin news from CoinDesk, Bitcoin Magazine and more coming soon using our News reader.
– Over 2000 Cryptocurrencies: You can easily track over 2000 cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin, Dash, Zcash, Tezos, NEM, NEO, IOTA, Monero, Ethereum Classic, OmiseGO, SNT, Qtum, Iconomi, Dogecoin, Golem, Waves, Stellar, DigixDao and many more!
– New Altcoins Added Regularly: Most new cryptocurrencies are added the same day they are added to the exchange.
– Add fiat currencies to your portfolio.
– Global Coverage: View your portfolio in over 30 fiat currencies!
Blockfolio, LLC is a private company based in Los Angeles that provides mobile cryptocurrency services.
Please dont hesitate to contact us at email@example.com for any issues you may have.
Read more from the original source:
Blockfolio Bitcoin Altcoin App on the App Store
Things are looking brighter during the Asian trading session this weekend. Bitcoin has done better than hold the pivotal $8k level, it has risen to just under $9,000. As usual the movements of Bitcoin are mirrored in the altcoin charts and most of them are trading higher this morning. The leading altcoin however is one that has taken a lot of flak recently. But with a 53% jump in less than 24 hours Tron is on a flyer at the moment.
Social media has been vicious to Tron and its founder. For some reason this altcoin has hit a nerve with the Facebook fanboys that have been bleating on about it for some weeks. It has probably suffered a greater FUD attack than any other cryptocurrency out there, with the possible exception of Verge, and this may be due to the huge attack of FOMO causing the coin to spike from virtually nothing to $0.25 on January 5.
Since then it has been on a downward slide with all other altcoins. Today however Tron is over 50% higher than its trading price the same time yesterday. Currently trading at $0.054 TRX has seen the largest upward movement in the top 25 altcoins this morning. Founder Justin Sun is very active on Twitter where he posts almost weekly updates about partnerships with small Chinese companies. The entertainments based altcoin could easily reach its previous all-time high if a bigger partnership gets announced.
TRX is predominantly traded on Binance which has over half the total volume. Its market cap is $3.6 billion which ranks it as the 16th most popular altcoin. $480 million has been traded in the past 24 hours, largely in South Korea. Other altcoins enjoying big jumps today are Ripple, Cardano, Stellar and Lisk.
More on Tron can be found here:https://tron.network/enindex.html
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.
Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 15 years working in web technology and media. View all posts by Martin J. Young
See the original post:
Morning Asian Altcoin Trading Roundup: the leader is Tron
On December 22, 2017 the cryptocurrency market lost in excess of $200 billion to just over $420 billion while Bitcoin (BTC) traded below $11,000 as sellers hammered the market. Now two weeks later the cryptocurrency market has hit a new all-time high in excess of $700 billion, driven primarily by surging altcoins with Ripple (XRP) leading the charge.
Other topics covered in this week’s Bitcoin and Cryptocurrency webinar include –
If you missed this webinar and would like to know about future events, see the full DailyFX webinar schedule here.
— Written by Nick Cawley , Analyst
To contact Nick , email him at firstname.lastname@example.org
Follow Nick on Twitter @ nickcawley1
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from IG .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Webinar: Bitcoin Overshadowed by Altcoin Surge – Nasdaq.com
Please share if you find this article interesting.People Selling ‘Fully Verified’ Crypto-Exchange Accounts On the Rise – Bitcoin NewsNewsOver the past few months, cryptocurrency exchanges across the globe have been swamped with new customers looking to trade or acquire digital assets. Trading platforms have been having a hard time keeping up with the new registrants. Users are complaining that identity verifications are now required and take weeks to process, while some exchanges are not accepting new customers at all. This has led to rise of individuals selling fully verified accounts for a variety of popular digital currency platforms.Also Read: Several Bitcoin Exchanges Are Closing Their Doors to New TradersAs Exchanges Stop Accepting New Registrants and Require Mo
Please share if you find this article interesting.BUY IOTA AND AIM FOR $5.5Its no doubt that it IOTA has been on a rough patch with sellers pushing prices lower. However, after that close above $4.2, just buy IOTA. Yes, and while at it aim for $5.5.Of course, after last weeks higher high, retracements and break outs, I was hoping LTC to spice up after waking up from a 2 week slumber but it didnt.Instead we are seeing a series of lower lows and that is okay since any reversal from $255 is a retest which is pretty inviting for buyers.Lets have a look at other alt coin chartsAS NEM BUY PRESSURE STUTTER FOCUS SHIFT BACK TO $1.35IOTUSD 4HR Chart for January 8, 2018Prices are pretty good and for NEM buyers, there is no reason to complain.Judging from last week-which by the
Please share if you find this article interesting.Chinese Authorities Ask Local Miners to Submit Monthly Status Reports – Bitcoin NewsRegulationXinjiang Province regulators have issued an official document informing local bitcoin miners to submit status reports on a specific schedule.Also Read:Japanese Virtual Currency Girls Spreading Cryptocurrency Knowledge An Orderly ExitBitcoin mining companies were told to write a status report before Jan. 5, according to a government notice signed by a Xinjiang committee in charge of overseeing internet finance risks (The Committee) that was circulated online and verified by people familiar with the matter.The document reads that:Xinjiang is home to multiple bitcoin miners, which are both energy-intensive and highly sp
Please share if you find this article interesting.Crypto Tax Tips To Start 2018 RightEven though cryptocurrencies are getting more and more exposure, their legislation seems to be a grey area for most governments, especially when it comes to declaring your income in digital currencies. The Internal Revenue Service, the US tax collection agency, has issued Notice 2014-21 stating that Bitcoin and altcoins are subjects to federal income and payroll taxes. So what to do with your crypto money and how to declare your taxes right?RecordsLets start with the dreary subject of records. Yes, that applies to crypto investors too. Youd better have some if you are thinking about taxes. If youve ever tried to tell the IRS I lost my receipt, you dont want to do it a second time.The I
Please share if you find this article interesting.This Week in Bitcoin: The Hunt for the Next Bitcoin Intensifies – Bitcoin NewsFeaturedWell, that just happened. What happened? Lets see: crypto penny stocks mooning. Centralized banking coins mooning. Long forgotten alt bags and even abandoned projects languishing on Cryptopia mooning. Basically everything that wasnt bitcoin mooning, bringing with it a new wave of zealots and maximalists, convinced that their coin is The One True Coin to lead the impoverished out of the wilderness and into Lamboland. Welcome to another week in bitcoin.Also read:Finance Guru James Altucher Is Launching a Cryptocurrency ExchangeMoon Rockets: Now Leaving HourlyAs the meme on 4chans /biz/ messageboard runs, He missed bitcoin. He miss
Please share if you find this article interesting.Vietnam Expedites Cryptocurrency Legal Framework Ready End of January – Bitcoin NewsRegulationThe government of Vietnam has taken steps to accelerate the adoption of cryptocurrency regulation that will affect Bitcoin. The executive power in Hanoi has insisted that the framework should be ready by the end of January. Amendments to the tax code are expected to help tap into proceeds from virtual property and digital money.Also read: Cryptocurrency Mining Soars in Vietnam Over 7000 Rigs ImportedIndochina Catching UpThe new impetus was given by a high-ranking government official who insisted on hastening the legal process. Deputy Prime Minister Vuong Dinh Hue has asked the Ministry of Justice and the State Bank to qui
Please share if you find this article interesting.New York Stock Exchange Moves on Bitcoin ETFsThe New York Stock Exchange has filed for permission to launch a number of Bitcoin-related exchange-traded funds (ETF) just one week into 2018.As reported by BusinessInsider, a filing sent to the United States Securities and Exchange Commission shows that the exchange intends to launch five different ETFs offering bull and bear futures contracts on the Arca stock exchange.These EFTs will be linked to the price of Bitcoin futures listed on the CME and CBOE exchanges, which launched Bitcoin futures contracts in December 2017:The target benchmarks value will be calculated as the last sale price published by the CME or the CBOE or any other US exchange that subsequently trades bit
Please share if you find this article interesting.Korean Government Starts Inspecting Major Banks for Crypto Regulation Compliance – Bitcoin NewsRegulationThe South Korean authorities will start inspecting major banks for their compliance with cryptocurrency regulations on Monday. This move follows the regulators recent announcement prohibiting the use of virtual bank accounts for anonymous trading.Also read:Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token SalesInspecting 6 Major BanksThe South Korean Financial Intelligence Unit (FIU), under the Financial Services Commission (FSC), and the Financial Supervisory Service (FSS) said on Sunday, January 7, that they will jointly inspect 6 major banks for compliance of cryptocurrency regulation.
Please share if you find this article interesting.Exponential Growth: Cryptocurrency Exchanges Are Adding 100,000+ Users Per DayMajor Bitcoin and cryptocurrency trading platforms within the global market have been adding more than 100,000 users per day.Many of the leading cryptocurrency exchanges such as Coinbase (GDAX), Binance, Bittrex, Bitstamp and Kraken have struggled in dealing with the abrupt surge in demand for cryptocurrencies. Some exchanges have overhauled their systems to improve their scalability, while others have temporarily stopped opening new user accounts.Unexpected growth rateThis week, Changpeng Zhao, the founder and CEO of Binance, the global markets largest cryptocurrency exchange with a staggering $9.5 bln daily trading volume, revealed that it has ad
Please share if you find this article interesting.Coinbase Withdrawal Delays Leave Users Frustrated, Crying Foul – Bitcoin NewsServicesWhen you are dealing with platforms that are supposed to be the on-ramps to the money of the future its hard to accept worse performance than the systems of the past. Unfortunately, this an issue plaguing all major cryptocurrency exchanges at the moment with Coinbase being one of the leading examples right now.Also Read: Binance Exchange Disables New User RegistrationsCoinbase DelaysSan Francisco-based cryptocurrency exchange Coinbase is experiencing several disruptions to its normal business operations. According to the companys status page, it is now facing transactions delays, wire processing delays and ID verification delays. Coin
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The cryptocurrency markets achieved another comprehensive advance on Tuesday, but breaking from recent norms the bitcoin price was not leading the rally. That honor belonged to the ethereum price and litecoin price, each of whom surged to all-time highs and helped catalyze a record day for the altcoin markets.
Nevertheless, bitcoin did make a slight advance and coupled with the $20 billion altcoin rally, the total cryptocurrency market cap soared from $444.3 billion to $467.8 billion.
This, incidentally, makes the combined value of all cryptocurrencies worth more than Chinese technology conglomerate Alibaba, whose founder, Jack Ma recently said that bitcoin is not for me.
The bitcoin price rallied after U.S. exchange CBOE launched regulated bitcoin futures contracts on Sunday, but the most prominent cryptocurrencys performance was a bit more tepid during the first full day of trading. After briefly rising above $17,500, the bitcoin price settled down to a present value of $16,906. This represents a daily increase of one percent and translates into a $283 billion market cap. January futures, meanwhile, were priced at $17,730 at the time of writing.
Notably, bitcoin futures trading currently represents little more than a blip in the market. While CBOEs $50 million in first-day volume was respectable for a nascent asset class, it pales in comparison to the $12 billion in trades that bitcoin exchanges processed during the same period.
Although ethereum has been in a sustained uptrend throughout the year, it has been unable to match bitcoins gains during the fourth quarter. Consequently, it has gradually lost market share, and at one point its corner of the market dropped below 10 percent.
Tuesday brought investors a welcome change. The ethereum price leaped by 16 percent, punching through the $500 barrier and briefly extending as high as $553 a new record before ebbing back to a present value of $540. Ethereum now has a market cap of $52.1 billion, raising its market share to 11 percent.
More than three-quarters of the top 100 cryptocurrencies rose against the dollar on Tuesday, including every coin and token within the top 10. Many of these gains constituted double-digit percentage increases, which was all the more impressive considering that bitcoin only rose one percent.
The bitcoin cash price rose nearly seven percent, bringing the third-largest cryptocurrency back close to the $1,500 mark, but its performance was eclipsed by the new fourth-largest cryptocurrency: litecoin.
Just days ago, litecoin was trading in the bottom half of the top 10, but it has assembled a breathtaking rally since the weekend. In the past day alone, the litecoin price has soared more than 58 percent to a new all-time high of $260. Litecoin now has a market cap of $14.1 billion, placing it ahead of both IOTA and ripple in the rankings.
Despite losing a spot in the rankings, IOTA did post a double-digit percentage increase for the day, rising more than 13 percent to $4.90. Ripple, meanwhile, increased 11 percent to $0.275. The dash price climbed by 10 percent, bringing it within striking distance of $800, and monero posted a similar movement to bring its price near $300. Next to litecoin, the NEM price returned the best performance of any top 10 coin or token, leaping by 27 percent to $0.546. Bitcoin gold, however, rounded out the top 10 with an increase of just two percent.
Featured image from Shutterstock.
Believe it or not, Bitcoin is not the only cryptocurrency! There are thousands of cryptocurrency alternatives to Bitcoin available today each with unique differences, functionalities, and purposes.
Semantics: Altcoin isnt the name of a cryptocurrency. Rather, the term altcoin describes any cryptocurrency alternative to Bitcoin. For example, Ripple, Litecoin, and Ethereum are all technically altcoins. With that in mind, people generally use the term to describe coins with lower market capitalizations. On this site we say major alt if we mean coins with the top market caps that arent Bitcoin, and we say minor alts to describe all other cryptos. See a list of altcoins.
Simply put, altcoins are cryptocurrency alternatives to bitcoin. In general, altcoins work very similarly to bitcoin. However, there can be some minor differences between different coins. Below is a list of the most important facts about altcoins:
To learn more about the different types of available coins, be sure to visit our page Listing theCurrently Available Altcoins.
To learn more about altcoin in general and for comprehensive altcoin resources, be sure to visit altcoins.com.