The Current Status of the Top Cryptocurrencies

The waves keep crashing in this endless sea of red that seems to be a part of the picture since the turn of the year.The markets for Bitcoin, NEO, Ethereum, Stellar, and other cryptocurrencies seem to be adjusting constantly from all of the uncertainty that was taking place in South Korea, events that are taking place in the potential Tether incident, and regulatory concerns in India and upcoming G20 summit.

The prices of Bitcoin have decreased from their all-time high of $20,000 to less than half, trading around $8,500 at the time of this writing. Bitcoin is also looking at where it will find itself, will it become a platform like Ethereum? Will it be able to implement the lightning network, will it be able to scale and become a payments platform or will it keep its weight as the pioneer and sort of the digital equivalent of gold and be held as a store of value in cryptocurrencies.

Ethereum seems to be holding strong at around $950 as it has been on a gradual increase from its price of $287.89 at the start of November reaching an all-time high in early January and then fluctuating from $850-100 over these past days. Ethereum continues to have a growing ecosystem and seems to be making progress on it’s scaling while also looking at token value and understanding how to have both (speed and value).

Ripple has been experiencing a decline as well as it had enjoyed a price point of $4 around December going into January and then had a sharp correction and continues to trade around $1.00; it experienced a sharp decline recently seeing prices of .80. The fundamentals that concern XRP holders are based primarily on, when will XRP be utilized more and more by institutions? When will xRapid be used by companies for their liquidity needs? Will it be in 2018? Ripple does seem to be resilient around the price point of a .80 – $.1.20, Ripple investors who purchased early at around.20, continue to see their value stored and grown.

NEO, a currency which is dubbed to be China’s Ethereum started off November in prices of $26 and has gradually increased to $72.99 over December and has continued to climb to an all-time high of $161.98 despite the general market corrections in January and continues to hold strong in the one hundred range, currently sitting $123.99. Investors who purchased NEO early can see their value stay strong.

Bitcoin Cash, the fork of the Bitcoin blockchain has grown from $500 in November of last year to reach an all-time high of $4000 on December 20th. It is now priced at $1100. It has witnessed a steep correction since it’s starting point and one wonders if it will continue to sink to its starting point or will it have major developments over the year and come back? What sort of developments will Bitcoin Cash have to have to put up a fighting chance?

Stellar is still above its price point of .04 in November, and the team there has released their roadmap for this year and continue to focus on the developments for the rest of the year.

By | 2018-02-03T01:10:50+00:00 February 3rd, 2018|News|0 Comments

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