The cryptocurrency market saw a lot of volatility this week, mostly because of Bitcoin (+20% w-o-w) shooting past the $18000 in some exchanges on Thursday, December 2017 before correcting to its current price levels of around $14000. Ever since Bitcoin broke the $10,000 range in the last couple of weeks, it has enjoyed a lot of new investor capital causing a lot of premium to be in a lot of global markets like South Korea and India. Other major gainers this week were IOTA (up 163% w-o-w), Litecoin (up 33% w-o-w), and Monero (up 13% w-o-w). KryptoMoney.com is back with a weekly list of top ten cryptocurrencies.
IOTA’s remarkable growth can be attributed to a number of high profile partnerships that the IOTA foundation announced which involved companies like Microsoft. Monero enjoyed a lot of growth this week as the United States IRS put Coinbase users under scrutiny. The cryptocurrency market overall peaked at $450 billion on Thursday before correcting to its current levels of around $375 billion.
A lot of major cryptocurrencies have taken a hit this week after weeks of uninterrupted growth as Ethereum fell to around $430, Bitcoin Cash to $1200 and Ripple touched $0.23. The major pullback that has brought down almost all the major cryptocurrencies in the past two days could last a few more days as Bitcoin’s price consolidates and new buy and sell walls are created. But with a lot of new investor capital coming into the cryptocurrency space, the downtrend is not expected to last very long.
Today, 10 December 2017, can be a major date in the history of Bitcoins, as CBOE is going to start the trading of Bitcoin Futures today onwards
KryptoMoney.com publishes a list of top ten cryptocurrencies every Sunday. This is our 31st weekly report and the previous one was publishes on 3 December 2017.
| S.No | Name | Market Cap | Price | Circulating Supply |
| 1 | Bitcoin | $228,825,086,175 | $13,676.10 | 16,731,750 BTC |
| 2 | Ethereum | $42,347,111,908 | $439.98 | 96,248,030 ETH |
| 3 | Bitcoin Cash | $21,595,229,885 | $1,281.81 | 16,847,450 BCH |
| 4 | IOTA | $11,337,231,504 | $4.08 | 2,779,530,283 MIOTA |
| 5 | Ripple | $9,023,082,879 | $0.23 | 38,739,144,847 XRP |
| 6 | Litecoin | $7,369,231,743 | $135.88 | 54,232,183 LTC |
| 7 | Dash | $5,150,873,311 | $665.12 | 7,744,335 DASH |
| 8 | Monero | $3,542,678,815 | $229.31 | 15,449,232 XMR |
| 9 | Bitcoin Gold | $3,534,664,093 | $211.68 | 16,698,149 BTG |
| 10 | NEM | $3,205,485,000 | $0.36 | 8,999,999,999 XEM |
Source= Coinmarketcap.com
*Market Capitalization is calculated by multiplying the price with the supply of coins in circuclation.
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Gaurang Jain is a recent CS graduate from the University of Ilinois, Urbana-Champaign who has been involved in the cryptocurrency space since mid 2014 having set up a small mining operation in his dorm room (yay! Free electricity). He has grand visions for the future of cryptocurrencies and believes that in time code will disrupt big corporations and intrusive governments in ways that we cannot even imagine yet. He loves the great outdoors and is always up for road trip and does stand up comedy on the weekends when he can get a spot.
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