Friday, December 29, 2017

December saw numerous cryptocurrencies swap back and forth to vie for the top market caps underneath Bitcoin

While Bitcoin of course remains the big dog in the cryptocurrency sphere, holding 44% of the entire sector's market cap, other cryptocurrencies have been engaged in an interesting tug of war during December to vie for spots two through five in the market.

At the beginning of December Ethereum held onto the number two spot, while cryptos such as ripple, litecoin, and Bitcoin cash moved in and out of the top 5.  However as we come to the end of 2017, it appears that Ethereum has actually lost some of its momentum, and moving into the number two place is the predominantly proprietary cryptocurrency known as Ripple.

As BI reports, Ripple, which is up about 61% over the past week and more than 5,000% this year, has been on a tear since Ripple's Asian subsidiary and a group of Japanese credit-card companies announced a new consortium Wednesday. The consortium aims to identify how blockchain and distributed-ledger technology can be deployed in credit-card payments. 
The news of the consortium follows a bullish month for the coin, which has been propelled to new heights by interest from Asia, according to reporting by Forbes
Alexey Ivanov, the CEO and cofounder of Polynom Crypto Capital, a Moscow-based cryptocurrency and blockchain investment fund manager, told Forbes. - Zerohedge

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