Cryptocurrency Still Going Strong Even As Market DropsScroll Down
Cryptocurrencies began the new year on a positive note. On January 7, the market value of all digital currencies surpassed $835 billion. But prices have fallen since. On January 10 alone, prices fell 10%. But some cryptocurrencies this week did better than others. Here are the top performers: 1. Tron Tron ended the week trading at $0.237, up from $0.235 a week ago. Last summer, the company bought BitTorrent and this week BitTorrent issued its own cryptocurrency based on Tron called BTT. Justin Sun, who is the founder of Tron, believes that this will expose Tron's blockchain to many million new users. Though some are skeptical that Tron has the capacity to handle the transaction volume. 2. NEO NEO ended the week at $7.81 after starting it at $8.85. It has been reported that a rumored partnership between the developers of the currency and the Russian government helped its performance. Russia is supposedly considering the use of digital currencies as a means of avoiding U.S. sanctions. 3. Cardano Ending the week at $0.043, Cardano fell only slightly from the $0.048 it began the week at. Some believe that the currency is being kept afloat by anticipation of its imminent move from a centralized blockchain to a decentralized one. But it is not certain at the moment whether this upgrade will propel the currency higher. 4. Binance Coin Binance ended the week trading at $6.06 after starting the week at $6.53. The currency was bolstered by news that it plans this year to launch a new token every month through its token launch platform called Launchpad. Some are wondering if this platform could help lift the current market for initial coin offerings (ICOs). 5. Litecoin Litecoin was trading at $32.665 at the end of the week after beginning it at $40.1. This week, the currency reached a milestone: 60 million coins are now in circulation out of a possible 84 million. The coin's creator also made news this week when he said that decentralized blockchains "must be susceptible to [a] 51% attack," such as the one that recently struck Ethereum Classic.