The crypto market moves fast and at Uphold we know how important it is for our users to stay on the pulse of shifting trends and market changes. The last few weeks, especially, have seen dramatic and unexpected fluctuations in the market and with new conversations on regulations.
Here’s a recap of what happened last week:
Litecoin Surge In Anticipation of the Hard Fork
Litecoin has surged in price over 30%! On Wednesday, LTC reached a one-month high of $218 recovering from February 6th’s low of $105. Why the sudden surge? Some traders speculate that the upcoming hard fork, “Litecoin Cash”, is inspiring the movement in the market. Once the fork occurs, for every LTC on the block–holders will receive 10 Litecoin Cash.
Do This Months Lows, Mean Summer Highs?
Bitcoin’s value climbed back up to $10,200, from a low of below of $6,000 over the last couple weeks. The new surges meant an overall $475 billion high in the market value Thursday, though this number has tapered down a bit since. Other cryptocurrencies are also experiencing surges: litecoin, ethereum, ripple, and bitcoin cash. Fundstrat Global Advisors’ Tom Lee said historical performance of bitcoin bottoms “implies new highs by July.” Lee predicteds a high of $20,000 by summer and $25,000 by end of 2018.
View Ads, Mine for Coins
Cryptocurrency may mean new opportunities for advertising. In order to curb use of adblocker, Salon.com is offering an alternative for its users to engage with ads. If a reader turns off their adblocker and engages with ads, they can mine crypto (Monero) while visiting the website. This could mean a new long-term solution to the problem of losing ad monetization across the internet.