Stars of the crypto world are busy in doubling wealth, each day in some cases. Most popular among them, bitcoin has soared over 19 times in 2017 and 142 per cent in the past one month. Other major cryptocurrencies are also following the leader.
The second largest digital currency, ethereum, has gained 107 per cent in the past one month. The currency jumped to $722.75 on December 18 from $353.44 on November 19, 2017.
Ethereum was founded in 2013 by Vitalik Butkerin and uses a cryptocurrency called Ether, which is used as a payment method. Ethereum is a decentralised system, which allows investing, accounting and implementing of decentralised programs or smart contracts.
Smart contracts are transaction protocols or programs, which check the terms of a contract automatically and run as demanded by clauses in the contract.
Other major digital currencies including ripple, litecoin, cardano and IOTA have gained over 200 per cent, 350 per cent, 1,600 per cent and 300 per cent, respectively, in the past one month.
Global news agency Bloomberg recently added price quotes for three other cryptocurrences — ethereum, litecoin and ripple — to its terminal service. The terminal is used by major investment houses and banks worldwide. It had earlier added bitcoin.
DASH, Stellar, EOS and Monero also advanced 135 per cent, 650 per cent, 325 per cent and 150 per cent, respectively, during November 18-December 18.
Monero is a privacy-centric cryptocurrency based on the CryptoNote protocol.
In order to tap investor interest, select exchanges have started future trading in bitcoins. In the recent past, CME Group Inc, the world’s largest derivatives exchange operator, began trading bitcoin futures on Sunday.
