This regular column looks at the the top 10 cryptocurrency prices and tracks the rises and falls over a day, a week and a month. We think that, over time, this will add to our understanding of blockchain technology and cryptocurrencies.
We take the top 10 from our regular monthly analysis piece “Top 10 cryptocurrencies” which analyses and tracks the largest currencies by market capitalisation.
As well as this column, you will see the prices detailed below distributed via our Twitter and Instagram accounts. This article and associated social media content is not recommending specific currencies, trading platforms or whether you should invest in cryptocurrencies.
Top 10 cryptocurrency movers and shakers: 5th July 2018
So, five days into July and it’s green across the board for weekly and monthly prices with the exception of Tether which has been more or less flat. Tether is a new entrant to our top 10, taking TRON’s place. As we’re in the first week, weekly and monthly price changes will be the same. Some daily prices are red but generally everything is up.
We’ve listed each currency vs US dollars (USD) and have used prices from the same exchange wherever possible. All price movements are from Investing.com on 5th July 2018 between 13.23 and 13.51.
Bitcoin: BTC/US$ 6,629.29
· One day up 0.61%
· One week up 3.78%
· One month up 3.78%
About Bitcoin
In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
Ethereum: ETH/US$ 474.71
· One day up 0.98%
· One week up 4.60%
· One month up 4.60%
About Ethereum
Ethereum was launched by Vitalik Buterin on 30th July 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a white paper in 2013 describing Ethereum. Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy in to his proposal.
Ripple: XRP/US$ 0.4879
· One day down 0.92%
· One week up 4.28%
· One month up 4.28%
About Ripple
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money.
Bitcoin Cash: BCH/US$ 758.61
· One day down 0.64%
· One week up 1.11%
· One month up 1.11%
About Bitcoin Cash
Bitcoin Cash was born out of the idea of making Bitcoin more practical for small day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017.
EOS: EOS/US$ 8.97
· One day up 1.42%,
· One week up 11.19%
· One month up 11.19%
About EOS
The EOSIO platform was developed by private company block.one and released as open source software on 2nd June 2018. One billion tokens are being distributed on the Ethereum blockchain by block.one. EOS is based on a white paper published in 2017 and the CEO of block.one (Brendan Blumer) announced it will be supported with over $1 billion.
Litecoin: LTC/US$ 84.40
· One day down 1.00%
· One week up 4.11%
· One month up 4.11%
About Litecoin
Litecoin was released in October 2011 by Charlie Lee, a former Google employee. It was a fork of Bitcoin with the main difference being a smaller block generation time, increased maximum number of coins and a different script-based algorithm.
Cardano: ADA/US$ 0.1497
· One day up 0.97%
· One week up 10.69%
· One month up 10.69%
About Cardano
Cardano claims to have tried to change the way cryptocurrencies are designed and developed, balancing the best of the functionality of several cryptocurrencies into one coin. The project began in 2015, the work of a global team of scientists and academics. ADA was released in September 2017.
Stellar: XLM/US$ 0.2115
· One day up 0.38%
· One week up 9.48%
· One month up 9.48%
About Stellar
Stellar was founded in 2014 by Jed McCaleb and Joyce Kim. At launch it was based on the Ripple protocol but the network eventually forked. Stellar is an open source protocol for exchanging money where servers use the internet to connect to and communicate with other Stellar servers, forming a global value exchange network.
IOTA: MIOTA/US$ 1.1911
· One day down 2.42%
· One week up 17.95%
· One month up 17.95%
About IOTA
The IOTA Foundation was incorporated in Germany as a non-profit corporation. The Foundation is “dedicated to building sustainable ecosystems around IOTA to accelerate its development and commercial adoption as an open source technology”. In November 2017, the Foundation had a US$100 million fund to promote IOTA use.
Tether: USDT/US$ 0.9985
· One day down 0.03%
· One week down 0.02%
· One month down 0.02%
Tether was issued on the Bitcoin blockchain. It “converts cash into digital currency, to anchor or “tether” the value of the coin to the price of national currencies”. So, the value is meant to mirror that of the US dollar and each unit of Tether is backed by $1 held in reserve. One of the main uses of Tether is to facilitate trading between cryptocurrencies with a rate fixed to the US$ allowing traders to take advantage of trading opportunities.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.