Cryptocurrencies on Track for Weekly Gain Led by Litecoin, Bitcoin and Ethereum
Investing.com – Cryptocurrencies saw mixed trade on Friday, but were still on track for a weekly gain of 3% led by Litecoin, Bitcoin and Ethereum.
Cryptocurrencies overall were higher, with the total coin market capitalization at $265.41 billion by 10:39 AM ET (14:39 GMT), compared to $263.10 billion a day earlier and up about 3% from $257.78 billion a week ago.
was down 7% at $130.219 on Friday as a bullish rally spurred by its upcoming halving ran out of steam. Known as Bitcoin’s “little brother”, LTC has surged more than 300% this year on plans to half the reward for miners to 12.5 LTC from 25 LTC on Aug. 6. Despite Friday’s decline, the fourth-largest digital coin by market cap showed the best weekly performance when compared to its nine closest rivals, up more than 13%.
was last up 3% at $8,392.7. The 5% weekly gains in the largest crypto by market cap, equivalent to more than half the total market, served as a significant boost for the sector as a whole.
managed to still log weekly gains of 2.9% despite a 1.3% decline to $256.59 on Friday.
Stuck by total market cap between Ethereum and Litecoin, was the worst weekly performer out of the top 10 alt coins as Friday’s 1.0% drop to $0.39636 extended its losses in the last seven days to 5.8%.
In crypto sector headlines, The Wall Street Journal reported that Facebook (NASDAQ:) has .
Companies including Visa (NYSE:), Mastercard (NYSE:), PayPal (NASDAQ:) and Uber (NYSE:) will reportedly invest around $10 million in a consortium to oversee the social media firm’s digital currency.
The coin will be dubbed Libra and will be pegged to a basket of government-issued currencies in an attempt to avoid the extreme volatility associated with the digital assets.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
View original post