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Kodak launches cryptocurrency, stock pops 125% – Jan. 9, 2018

The century-old camera brand said Tuesday it is investing in blockchain technology and plans to launch a “photo-centric cryptocurrency” called KODAKCoin.

Kodak (KODK)’s stock surged as much as 125% in trading after the announcement.

With the price of Bitcoin, Litecoin, Ripple and other digital currencies skyrocketing, an eclectic mix of small, unrelated businesses has attempted to ride the wave of investor interest by teasing cryptocurrency pivots.

Long Island Iced Tea Corp. changed its name to Long Blockchain Corp (LBCC). Bioptyx rebranded as Riot Blockchain (RIOT) and shifted its business model from biotech to bitcoin. Rich Cigars, a tobacco company, and Vapetek, an e-cigarette firm, each declared they were suddenly blockchain businesses.

Related: I bought $250 in bitcoin. Here’s what I learned

Investors have generally reacted to these announcements by sending the stocks soaring. However, Kodak framed the move as being about more than profiting off a buzzword.

“For many in the tech industry, ‘blockchain’ and ‘cryptocurrency’ are hot buzzwords,” Jeff Clarke, Kodak’s CEO, said in a statement. “But for photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords are the keys to solving what felt like an unsolvable problem.”

Kodak says it will use the blockchain, essentially a digital ledger, for a new platform called KODAKOne to help photographers manage image rights. KODAKCoin will be used for transactions when photographers license their work.

The Kodak news was quickly met with sarcasm on social media. As one reporter joked on Twitter (TWTR), it may only be a matter of time before we see the launch of “PolaroidCOIN” and “SearsCOIN.”

— CNNMoney’s Paul R. La Monica contributed to this report.

CNNMoney (New York) First published January 9, 2018: 2:06 PM ET

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The cryptocurrency bubble is strangling innovation | TechCrunch

Sure, fine, maybe its a bubble. OK its definitely a bubble, but thats a good thing, a bubble brings attention and investment in infrastructure, which breeds real innovation. Right? Look at the dot-com boom. A lot of people lost a whole lot of paper money, but it brought us a cheap worldwide fiber backbone and companies like Amazon and Google. Todays crypto bubble is just like that. Right?

So goes the theory, by which I mean, desperate rationalization. And it was somewhat true, for a while; but not any more. Cryptocurrencies have now ascended to speculative values that actually preclude any non-speculative uses. They have become so expensive that they are preventing innovation.

Most crypto tokens are, in fact, just glorified hash values stored on the Ethereum blockchain literally nothing more than a table of numbers like address A: 10,000. address B: 20,000, wrapped in standard blocks of code (the ERC20 and ERC721 standards, for fungible and non-fungible tokens respectively) so that they can be easily transacted.

Which means that every transfer of such tokens requires a transaction to be performed on the Ethereum blockchain. And as the price of ether has skyrocketed to more than $1,000 as I write this transaction fees have done so as well, so that the average fee for an Ethereum transaction is now around US$2.50.

(Ethereums variable-gas-price mechanism doesnt really help; fees are driven by supply and demand. And of course its not just Ethereum. Blockstacks DNS uses the Bitcoin blockchain as its source of truth, and Bitcoin transaction costs have also gone through the roof. SegWit transactions are cheaper / more efficient but thats noise compared to the overall trend.)

This is fine if youre just speculating, trading hundreds/thousands of dollars worth of tokens at a time. But it is crippling if youre actually trying to build an app that people use for anything else.

If youre trying to build a decentralized name / identity service your names now cost more than many top-level Internet domains that automatically resolve in browsers. If your tokens represent ownership of virtual entities, or access to decentralized storage suddenly just using the token at all, never mind transferring the value associated with the tokens, makes your cost structure somewhere between punitive and prohibitive.

So if youre trying to build anything even remotely high-volume atop an Ethereum token forget it. Your entire business model is catastrophically doomed at todays prices. (Ethereums sender-pays model doesnt help either, although thats due to change sometime soonish.) Only very-low-volume, very-high-value applications need apply. Like the current wave of speculation.

As a result, entire categories of cryptocurrency experimentation and innovation are on hold until the bubble bursts, or until / unless Ethereum finds a way to scale such that transaction fees plummet. Oh, people can still write and deploy code. But nobody will use it. Curious would-be users will be repelled by the nontrivial expense of mere experimentation, never mind ongoing usage.

So developers wont be able to find real-world users, and get any feedback from real-world use; they wont discover any emergent properties; and nobody will use and then iterate on their work. That whole continent of the blockchain ecosystem is now essentially in a deep freeze, covered by glaciers.

It remains an open question whether even much, much lower fees would be viable in the long run. Proponents of micropayments dont seem to realize that the fundamental problem with micropayments is not their cost, or the absence of supporting infrastructure; its the cognitive load that they induce. Parker Thompson of AngelList argues that fee-free decentralized apps are the only ones which might possibly succeed in consumer markets, and I think hes right, but that raises the question of how you prioritize and prevent spam blockchain transactions in the absence of fees.

Today thats a moot point, though. Dont get me wrong; Im not saying the sky is falling, the feepocalypse is upon us, and every decentralized application is doomed forevermore. A lot of interesting work and research has in fact been done regarding scaling Ethereum: sharding, Raiden, Plasma. Hopes for them remain justifiably high.

But until and unless they roll out, and/or the cryptocurrency markets stop being voting machines and start being weighing machines, most non-speculative token projects are doomed to indefinite hibernation. If you care about actual innovation, the inevitable popping of todays bubble wont mark the onset of crypto winter; rather, it will bring a crypto spring.

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IBM puts its quantum computer to work in relaxing, nerdy ASMR …

Quantum computing is still a long way off delivering any actual tangible benefits, but that doesnt mean we cant appreciate it in other ways. Like, for example, this ASMR-style video made inside IBMs new Q computation center a research lab where the company is hard at work on its quantum computing hardware.

Like similar experiments run by Google and Microsoft, this means using things called qubits to create mind-blowingly powerful computers. In theory, anyway. While theres plenty of hype about quantum computing, the actual machines weve made to date are too slow and temperamental to be of practical use. Meanwhile, experts say commercial companies are making unjustified claims about their hardware, and theres not even any consensus on whether or not were building the right type of quantum computer. All of which is to say: dont hold your breath waiting for the Age of Quantum.

IBM is still bullish, though, and published this video last month to promote its new IBM Q Network a partnership of academic and industry players who will explore how quantum computers could improve various fields in the future. The company says proper quantum computing is just around the corner. We say, maybe, but in the meantime, just listen to those ventilators sing.

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Quantum computing is going to change the world. Here’s what …

The science and tech world has been abuzz about quantum computers for years, but the devices are not yet affecting our daily lives. Quantum systems could seamlessly encrypt data, help us make sense of the huge amount of data weve already collected, and solve complex problems that even the most powerful supercomputers cannot such as medical diagnostics and weather prediction.

That nebulous quantum future became one step closer this November, when top-tier journal Nature published two papers that showed some of the most advanced quantum systems yet.

If you still dont understand what a quantum computer is, what it does, or what it could do for you, never fear. Futurism recently spoke with Mikhail Lukin, a physics professor at Harvard University and the senior author ofone of those papers, about the current state of quantum computing, when we might have quantum technology on our phones or our desks, and what it will take for that to happen.

This interview has been slightly edited for clarity and brevity.

Futurism: First, can you give me a simple explanation for how quantum computing works?

Mikhail Lukin: Lets start with how classical computers work. In classical computers, you formulate any problem you want to solve in the form of some input, which is basically a stream of 0s and 1s. When you want to do some calculation, you basically create a certain set of rules depending on how this stream should actually move. Thats the process of calculation addition, multiplication, whatever.

But weve known for more than 100 years that our microscopic world is fundamentally quantum mechanical. And in quantum mechanics, you can have systems. Your computer, for instance, or your chair can be placed in two different states at once thats the idea of quantum superpositions. In other words, your computer can be simultaneously both in Boston and in New York. So this quantum superposition, even though it sounds very weird, is allowed by the laws of quantum mechanics. On a large scale, like the example that I gave, it is clearly very strange. But in the microscopic world, like with a single atom, creating this kind of superposition state is actually quite common. So by doing these scientific experiments, scientists proved that a single atom is in two different states at once.

The idea of quantum computers is to basically make use of these rules of quantum mechanics to process information. Its pretty easy to understand how this can be so powerful. In classical computers, you give me a certain input, I put it in my computer, I give you an output. But if our hardware was quantum mechanical, rather than just sequentially providing some input and reading out the answers, I could prepare the computer register in the quantum superpositions of many different kind of inputs.

This means that if I then take this superposition state and process it using the laws of quantum mechanics, I can process many, many inputs at once. It could be potentially an exponential speedup, compared to the classical programs.

F: What does a quantum computer look like?

ML: If you were to walk into a room with our quantum machine in it you would see a vacuum cell or tube and a bunch of lasers which shine into it. Inside we have a very low density of a certain atom. We use lasers to slow down the atomic motion very close to absolute zero, which is called laser cooling.

F: So how do you program the thing?

ML:. To program a quantum computer, we shine a hundred tightly-focused laser beams into this vacuum chamber. Each of these laser beams acts as a optical tweezer, grabbing one atom or not. We have these atom traps, each of which is either loaded or empty. We then take a picture of these atoms in these traps, and we figure out which traps are full and which are empty. Then we rearrange the trap containing single atoms in any pattern that we wish. This desired arrangement of single atoms, each individually held in and easily controlled, are positioned basically at will.

Positioning these atoms is one way that we can program it. To actually control the qubit, we gently, carefully, push the atoms from their lowest energy state into a higher energy state. We do this with carefully chosen laser beams that shoot to one specific transition. Their frequency is very tightly controlled. In this excited state the atom actually becomes very big and, because of this atom size, the atoms start interacting or in other words talking to each other. By choosing the state to which we excite the atoms and choosing their arrangements and positions, we can then program the interaction in a highly controllable way.

F: What kinds of applications would a quantum computer be most useful for?

ML: To be honest, we really dont know the answer. Its generally believed that quantum computers will not necessarily help for all computational tasks. But there are problems that are mathematically hard for even the best classical computers. They usually involve some complex problems, such as problems involving complex optimizations in which you try to satisfy a number of contradictory constraints.

Suppose you want to give some kind of collective present to a group of people, each of which has its own niche. Some of the niches might be contradictory. So what happens is, if you solve this problem classically, you have to check each pair or triplet of people to make sure that at least their niche is satisfied. The complexity of this problem grows in size very, very rapidly because the number of classical combinations you need to check is exponential. There is some belief that for some of these problems, quantum computers can offer some advantage.

Another very well-known example is factoring. If you have a small number, like 15, its clear that the factors are 3 and 5, but this is the kind of problem that very quickly becomes complicated as the number grows. If you have a large number that is a product of two large factors, classically there is pretty much no better way to find what these factors are than just trying numbers from one, two, three, and so on. But it turns out that a quantum algorithm exists, called Shors algorithm, that can find the factors exponentially faster than the best known classical algorithms. If you can do something exponentially faster than using the alternative approach, then its a big gain.

F: It sounds like your mission, and that of others in your field, is to help us advance and understand this technology, but the applications are sort of secondary and will come when you have the tools. Does that seem about right?

ML: I will answer your question with an analogy. When classical computers were first developed, they were mostly used to do scientific calculations, numerical experiments to understand how complex physical systems behave. Right now, quantum machines are at this stage of development. They already allow us to study complex quantum physical phenomena. They are useful for scientific purposes, and scientists are already doing it now.

In fact, one significance of our papers [published in Nature] is that we have already built machines, which are large enough, and complex enough, and quantum enough to do scientific experiments that are very difficult to impossible to do on even the best possible classical computers essentially supercomputers. In our work, we already used our machine to make a scientific discovery, which had not been made up until now in part because its very difficult for classical computers to model these systems. In some ways, we are now crossing the threshold where quantum machines are becoming useful, at least for scientific purposes.

When classical computers were being developed, people had some ideas of which algorithms to run on them. But actually it turned out that when the first computers were built, people were able to start experimenting with them and discovered many more practically efficient, useful algorithms. In other words, thats really when they discovered what these computers can actually be good for.

Thats why Im saying that we really dont know now the tasks for which quantum computers will be particularly useful. The only way to find these tasks is to build large, functional, quantum machines to try these things out. Thats an important goal, and I should say that we are entering this phase now. Were very, very close to a stage when we can start experimenting with quantum algorithms on large scale machines

F: Tell me a little bit about your Nature paper. What actually is the advance here? And how close are we to being able to start discovering the algorithms that could work on quantum computers?

ML: So first lets talk about how one could quantify quantum machines. It can be done along three different axes. On one axis is the scale how many qubits [a quantum bit, the unit that makes up the basis of quantum computer the way bits do in classical computing] it is. More is better. Another axis is the degree of quantum-ness, that is, how coherent these systems are. So eventually, the way to quantify it is that if you have a certain number of qubits, and you perform some calculations with that, whats the probability that this calculation is error-free?

If you have a single qubit, you have a small chance to make an error. Once you have a lot of them, this probability is exponentially higher. So the systems described in our paper, and also in the complementary paper, have large enough qubits and are coherent enough so that we can basically do the entire series of computations with fairly low error probability. In other words, in a finite number of tries, we can have a result that has no errors.

But this is still not the complete story. The third axis is how well you can program this machine. Basically if you can make each qubit talk with any other qubit in an arbitrary fashion, you can also encode any quantum problem into this machine. Such machines are sometimes called universal quantum computers. Our machine is not fully universal, but we demonstrate a very high degree of programmability. We can actually change the connectivity very quickly. This in the end, is what allows us to probe and to make new discoveries about these complex quantum phenomena.

F: Could a quantum computer be scaled down to the size of a phone, or something vaguely portable at some point?

ML: That is not out of the question. There are ways to package it so that it can actually become portable and potentially can be miniaturized enough maybe not to the point of a mobile phone, but perhaps a desktop computer. But that cannot be done right now.

F: Do you think, like classical computers, quantum computers will make the shift from just scientific discoveries to the average user in about 30 years?

ML: The answer is yes, but why 30 years? It could happen much sooner.

F: What has to happen between now and then? What kind of advances need to be made to get us there?

ML: I think we need to have big enough computers to start really figuring out what they can be used for. We dont know yet what quantum computers are capable of doing, so we dont know their full potential. I think the next challenge is to do that.

The next stage will be for engineering and creating machines that could be used maybe to target some specialized applications. People, including [my team], are already working on developing some smallscale quantum devices, which are designed to, for example, aide in medical diagnostics. In some of these applications, quantum systems just measure tiny electric or magnetic fields, which could allow you to do diagnostics more efficiently. I think these things are already coming, and some of these ideas are already being commercialized.

Then maybe, some more general applications could be commercialized. In practice quantum computers and classical computers will likely work hand-in-hand. In fact, most likely what would happen is that the majority of the work is done by classical computers, but some elements, the most difficult problems, can be solved by quantum machines.

There is also another field called quantum communication where you can basically transfer quantum states between distant stations. If you use quantum states to send information, you can build communication lines that are completely secure. Moreover, through these so-called quantum networks, sometimes called quantum internet, we should be able to access quantum servers remotely. That way, I can certainly imagine many directions in which quantum computers can enter everyday life, even though you dont carry it in your own pocket.

F: Whats something that you wish more people knew about quantum computers?

ML: Quantum computing and quantum technology have been in the news for some time. We scientists know that its an exciting area. Its really the frontier of the scientific research across many subfields. Over the last five to 10 years, most people assumed that the developments have been very futuristic. They assumed that it will take a long time before we create any useful quantum machines.

I think that this is just not the case. I think we are already entering the new era with tremendous potential for scientific discoveries, which might have wideranging applications for material science, chemistry really anything that involves complex physical systems. But I also feel that very soon we will start discovering what quantum computers can be useful for in a much broader scope, ranging from optimization to artificial intelligence and machine learning. I think these things are around the corner.

We dont yet know what and how quantum computers will do it, but we will find out very soon.

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Quantum computing is going to change the world. Here’s what …

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Coinschedule – The best cryptocurrency ICOs (Initial Coin …

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AVG Internet Security 2018 License Key With Crack Full Version

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AVG Internet Security 2018 License Key With Crack Full Version

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Bitcoin Mine News Bitcoin & Altcoin Mining & Trading News

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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Ethereum, Litecoin Prices Headline $20 Billion Altcoin Rally

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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.

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