Cryptocurrencies: Ethereum Leads, Bitcoin Lags

Cryptocurrencies: Ethereum Leads, Bitcoin Lags

Cryptocurrencies: Ethereum Leads, Bitcoin Lags


On Thursday Ethereum (ETH) led gains in cryptocurrencies, as Bitcoin (BTC) lagged, finished flat to unchanged on the day.

Currently, Ethereum is trading at 297.8850,+14.3579, or+5.0640%, as of 3:59a BST, the market is open

Currently, Bitcoin is trading at 6,410.256836,+120.948242, or +1.923074%, as of 3:59a BST, the market is open

Ethereum’s transaction speed tends to run between 3 to 7 transactions per sec, still a far cry from the thousands per second that credit card companies can process.

Ethereum network co-founder Jospeh Lubin was also on the wires Wednesday as he told the financial news that speculative “trader types” are driving volatility but he is not overall concerned that recent slump in prices would slow down the development of core infrastructure and adoption.

While Ethereum led the gains among the largest alternative currencies Thursday, Bitcoin was the day’s laggard among the 5 largest cryptocurrencies. The largest digital currency by market capitalization was up a bit to 0.3% to 6,350 on the Bitfinex exchange.

In other digital currency trading: Ripple gained 2.52% to 0.29058, decreasing the weekly decliner to 7.6%, while Bitcoin Cash, product of the Bitcoin fork and the 4th largest cryptocurrency by market capitalization, traded up 1.8% to 523.07.

The Altcoins

Altcoins, or coins other than Bitcoin, traded higher Thursday.

Ether ETHUSD, +4.95% which has been battered, is looking to log back-to-back winning sessions, trading 0.9% higher at $290.09,

Bitcoin Cash BCHUSD, +2.98% is up 2% at 525.20,

Litecoin LTCUSD, +2.66% has added 0.2% to 56.04 and,

Ripple’s XRP XRPUSD, +2.01% is trading at 30c, + 2.6%.

With the August contract expired the Cboe Global Markets Inc.’s September contract XBTU8, +0.78%  is the most active, finishing Thursday +0.5% at $6,385, as the CME Group Inc August contract BTCQ8, +0.31% closed 0.5% higher at $6,405.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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