Cryptocurrency prices scaled higher on Monday, with Ripple and Ethereum experiencing a 3% gain. However, Litecoin declined a phenomenon that market analysts referred to as normal.
A breakdown of the gains
By 12:02AM ET (04:02GMT), Bitcoin was trading at $8,424.0 and that was of course on the Bitfinex exchange. That was representative of a 0.1% rise over the past 24 hours.
In terms of the market cap, Ethereum pulls along as the second largest cryptocurrency and the 3.4% at $699.99 on the Bitfinex exchange was commended by a number of analysts following closely on the latest developments.
Ripple’s XRP Token went up by about 3.5% and that was on the Poloniex exchange. It was a figure quite close to that of Ethereum. The thing that is resulting in much heated debates at the moment is the 1.5% decline of Litecopin to stand at $137.81.
The former Goldman Sachs executive, Gary Cohn, who sometime back served as Trump’s advisor expressed optimism that in the near future the world was going to have a global cryptocurrency.
He was rather upfront in his speech asserting that he wasn’t one of the greatest believers in bitcoin. But, he did not hide it that blockchain technology was an area he took with much seriousness. According to him, it will end up being an easily understood cryptocurrency.
That was not forgetting that it would be based on blockchain technology. A lot of people are very much interested in learning about how it is exactly created, the way it moves and above all how people can use it.
There have been rumors flying about that Facebook, Inc (NASDAQ:FB) is considering coming up with its own cryptocurrency. The information is raising eyebrows especially now that the former head of Facebook’s Messenger team David Marcus announced that he was leaving his position to organize a new team whose focus would be to look at blockchain technology.
He said that he was pleased about the opportunity of leading Messenger, but a time had finally come for him to take on a new challenge.