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Crypto news: LTC and AVAX jump ahead

By Daniela Ešnerová


Updated

Representation of a pile of golden litecoin cryptocurrency tokens
Litecoin, along with avalanche, continued to build impressive gains today – Photo: Shutterstock

All but one of the top 10 digital coins were in the red Wednesday morning London time (with binance coin being the exemption). But this was against a record-breaking backdrop at the beginning of the week.

Meanwhile, litecoin and avalanche, which were the 13th and 14th largest altcoin cryptocurrencies by market value at the time of writing, continued to advance through the ranks, after adding whopping weekly gains of 42.70% and 28.95% respectively.

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Other crypto news

  • Trading volumes on a popular cryptocurrency exchange platform, Coinbase, slumped 29% in the the three months to 30 September 2021, compared with the previous quarter, dissapointing analysts and investors. Ether was the most traded digital token on the platform in the period, making up 22% of total trading volumes, followed by bitcoin’s 19%.
  • Riplle, the blockchain-based digital payment network and protocol with its own native token, XRP, is set to launch a crypto liquidity platform, the Ripple Liquidity Hub.
  • Tim Cooke, CEO of Apple (AAPL) affirmed that he owns bitcoin and ether, when asked during The New York Times DealBook conference on Tuesday. “I do. I think it’s reasonable to own it as part of a diversified portfolio,” Cook told Andrew Ross Sorkin. “I’m not giving anyone investment advice by the way.” 

Quote of the day

Ark Investment’s chief investment officer and portfolio manager Cathie Wood during the company’s November market update, commenting on a Twitter exchange between Miami mayor and incoming New York City mayor, in which they discussed, which one will be the first US politician to be paid in bitcoin:

"So we have some friendly competition. They both want bitcoin in their states - bitcoin developers and ecosystem, which is fantastic."

Roundup of coins by market capitalisation

As of 10:15 GMT:

  • bitcoin slipped 2.16% to $66,786.39
  • ether declined 2.09% to $4,717.37
  • binance coin was flat, adding 0.09% to $648.93

Winners and losers

  • The question “how low can you go?” comes to mind when looking at Shiba Inu’s continued downward journey. The token is now 16.98% down week-on-week
  • Litecoin continued to advance through the ranks of the biggest digital tokens by market capitalisation, and it was whopping 43.81% up over the last seven days of trading

Read more: This CEO is calling the SEC’s bluff on crypto

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