Ethereum And Ripple's XRP Soar As Bitcoin Treads Water--Here's Why - News Summed Up

Ethereum And Ripple's XRP Soar As Bitcoin Treads Water--Here's Why


Ethereum and Ripple's XRP are leading the field today while bitcoin, up a staggering 58% over the last 30 days, is cruising at a little more than $8,000 after adding over $2,000 per bitcoin since late last week. GettyEthereum and Ripple's XRP have climbed sharply this week as the bitcoin and cryptocurrency industry comes together for one of the biggest events in the cryptocurrency calendar starting—Blockchain Week NYC and CoinDesk’s Consensus 2019 event, running all this week out of the New York Hilton Midtown. Bitcoin and cryptocurrency analyst Nik Patel has meanwhile found that, historically, after bitcoin surges higher smaller cryptocurrencies such as ethereum and Ripple's XRP generally rally hard in the aftermath. Ethereum was given a boost after ethereum cofounder Joe Lubin bet bitcoin developer Jimmy Song $500,000 worth of cryptocurrency that ethereum’s decentralized apps would have a non-trivial number of users in five years. CoinDesk"It’s a maximum pain kind of bet," Song said during a session of CoinDesk Live at Consensus 2019.


Source: Forbes May 15, 2019 11:24 UTC



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