We here at Cryptolve are excited to present a new weekly article providing important insights into cryptocurrrency news, including technological advances, regulatory changes, and of course, pricing shifts. This was a big week in the cryptocurrency world, with Bitcoin futures opening, Ethereum breaking 10 transactions per second, and the price of Litecoin surging.
Bitcoin: Continued Mainstream Adoption
The past week saw the Chicago Board Options Exchange begin futures trading, a sign that mainstream financial institutions will continue to adopt Bitcoin. The increasing regulation could lead to more traditional investment options for those looking to enter the cryptocurrency market. Those investors not comfortable using the existing frameworks may soon be able to purchase ETFs or mutual funds with a cryptocurrency mandate. This could in turn lead to further price increases in the price of Bitcoin and other cryptocurrencies, as the overall customer pool increases.
Ethereum: Kitty Craze Declining
In the world of Ethereum, the Cryptokitty craze has started to slow down. The game had taken over the Ethereum network, accounting for over 10% of the daily transactions at the start of December. The initial jumping on phase seems to have settled slightly now, however transactions regarding the game still make up at least 3% of the daily Ethereum network transaction.
Vitalik Burterin, the creator of Ethereum, took to Twitter this week to announce that Ethereum had sustained over 10tx/sec for an entire day. This is good news for Ethereum, but many were quick to point out other networks already far more advanced in the regards, namely Ripple and Waves.
Litecoin: Lifting Off?
A coin that may be lesser known to the general public saw some astronomical gains early last week. Litecoin is not covered nearly as much as Bitcoin, but it was definitely making some headlines as it surged 100% over a two day period. The spike caused at least one exchange to halt trading on the cryptocurrency, something that holders of Ethereum and Bitcoin have experienced before.
Not interested in the Big Three? Check out our Weekly Watchlist, highlighting some options you may not have heard of.
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