Altcoins and their performances
In the past 24 hours, Bitcoin has fallen, and so have Ripple and Bitcoin Cash, falling 18.8% and 14.9%, respectively. Ethereum, however, rose 10.5% as of 5:00 AM EST. Among the other smaller altcoins that have risen during the past day were NEM, Tron, IOTA, and NEO, rising 3.7%, 2.8%, 0.41%, and 2.5%, respectively.
Among the cryptocurrencies that fell are Bitcoin Cash, Cardano, Litecoin, and Stellar, which fell 14.9%, 2.4%, 11.1%, and 4.5%, respectively.
Although Bitcoin Cash saw considerable ups and downs in its price movement, it was trading at $2,786.90 on January 7, 2018. It touched a high of $3,479.70 on December 23, 2017. It currently has a market capitalization of $42.6 billion and a volume of $1.3 billion.
After the launch of Bitcoin futures by the CBOE (Chicago Board Options Exchange) and CME (Chicago Mercantile Exchange), there could possibly be more competition from the NYSE (New York Stock Exchange) (NDAQ) (QQQ) considering the launch of Bitcoin futures on its exchange. The launch of CBOE futures pushed the prices of Bitcoin higher. However, the rival CME launch of Bitcoin was given a tepid welcome.
According to an SEC (U.S. Securities and Exchange Commission) filing on January 5, 2018, Long Blockchain, previously Long Island Iced Tea (LTEA), is planning to enter the Bitcoin mining business and is in the process of purchasing 1,000 units of AntMiner S9 manufactured by the China-based Bitmain Technologies.
We also know that Advanced Micro Devices (AMD) and Nvidia (NVDA) have likely been riding on the success of the cryptocurrency market in general. Although they are not direct investors in cryptocurrency, a significant portion of the computing necessary to make cryptocurrencies viable is accomplished with its graphics processors.