Crypto Markets Plunge to New Lows but Ripple, Stellar Continue Winning Ways

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term & Co. plunged to new lows during the past 24 hours as the recent sell-off in crypto markets gathered momentum.

Bitcoin (BTC/USD) fell as low as $313 on BTC-e, falling by over 5% after retracing yesterday's losses back to $329. It is currently trading at $316.50 on noticeably higher volume averaging 500 BTC/hour. Today's bottom was its lowest point since early October, when BTC plunged below $300. It now finds itself within 10% of new 2014 lows.

Litecoin, which already set a new 2014 low yesterday as it broke through $3, failed to make any meaningful retracement. It actually endured a mini flash crash, briefly diving by 15% to as low as $2.59. After recovering close to $3, it resumed its slump to below $2.90.

Two exceptions to today's mayhem are Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term's XRP and Stellar. One can argue that XRP is in vertical pump mode as traders pile in, expecting the rise to continue. It has gained another 22% to 7,750 satoshi ($0.0244), its highest level in over 14 months. Its market cap is now over $760 million.

Rival Stellar (STR) has resumed its winning ways, as well, gaining more than 100% in December to as high as 1,368 satoshi. It has since come off earlier highs, trading at 1,130 ($0.0036) - leaping back into eighth spot in market cap rank, after falling to 12th, passing slumping coins caught in the latest downturn. Its total valuation is now $12.6 million.