Welcome to “Top 5 Cryptocurrency Movers” where I look at all the major crypto coins on the market and choose the five that made the biggest move (either positive or negative) on this day, explaining my thoughts why the move happened, as well as the historical significance of the particular crypto. Here are my top five cryptocurrency movers for December 27, 2020:
#5: Blockstack (STX) ($0.4405, +40.82%)
Blockstack was the crypto market’s biggest gainer today, soaring 40% to its highest level on record. Blockstack labels themselves as a new internet for decentralized apps, and is an open-source for building decentralized apps and smart contracts, putting users in control of their data and identity. STX tokens are now able to be traded in the United States after an SEC approval, stating Blockstack’s tokens are no longer a security and are sufficiently decentralized.
#4: HedgeTrade (HEDG) ($0.4066, -17.21%)
HedgeTrade took a big loss in trading, falling to their lowest levels since June 2019. HEDG is a prediction platform for sharing token backed crypto, stocks, sports, and eSports. The way it works is that users earn HEDG tokens by sharing successful trading predictions and traders stake HEDG tokens, creating a trading Blueprint available for purchasers on the HedgeTrade platform.
#3: Ethereum (ETH) ($692.61, +7.72%)
Ethereum, the second largest cryptocurrency had another strong performance today and at one point crossed the $700 mark for the first time since 2018. ETH has had a strong year, with the announcement of ETH 2.0 and the exponential growth of decentralized finance (DeFi) in 2020, where financial smart contracts, decentralized applications (Dapps), and protocols are all built on the Ethereum network.
#2: VeChain (VET) ($0.0168, +15.33%)
VeChain was another impressive performer, going up 15% and finishing the year strong. VET is a smart contracts platform focused on supply chain management, enhancing processes and information flow for complex supply chains. Recent VeChain news shows that the cryptocurrency was awarded the first 5-star blockchain service provider in the world, certified by TUV Saarland.
#1: Bitcoin (BTC) ($26,928.51, +4.56%)
The bullish run for Bitcoin continues, reaching yet another brand new all-time high today at $28,450 and a market cap valued at $500,000,000,000 (half a trillion dollars), before falling to its current point. BTC has been an unstoppable force the last three months, increasing in price by 250% since October. It seems that everyone is talking about Bitcoin, and big companies like Square and PayPal have already embraced it.
Note that these prices are as of 2:00 PM EST/11:00 AM PST on the given day, and might not reflect the current price of the coin at the time of viewing this post.
Starting January 1, 2021, the timing of these daily posts will change to 9:00 PM EST/6:00 PM PST to better reflect the crypto market trading day.
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