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 January 3, 2021:
#5: Bitcoin (BTC) ($33,329.24, +2.20%)
Today marks the 12th anniversary of the creation of Bitcoin and the oldest cryptocurrency hit a fresh all-time high above $34,800. The popularity of BTC is at its highest point in history, leading to new records being broken every single day. Predictions of Bitcoin’s future are all over the board, with some expecting the crypto to continue all the way up to $100,000 with no brakes along the way, while others think a correction is in order, with a select few calling for a crash in the next few days.
#4: Ethereum (ETH) ($978.32, +25.47%)
The second largest cryptocurrency, Ethereum, also had a phenomenal day, rising 25% and nearly breaking through the $1,000 barrier! The price of ETH hit a three-year high, with these levels not being seen for this crypto since January 2018. While Ethereum is still $500 away from its all-time high, the future looks bright as 2021 will usher in ETH 2.0, as well as growing DeFi projects. ETH remains the leader in decentralized applications.
#3: Litecoin (LTC) ($160.18, +16.36%)
Litecoin has been following the bullish momentum that Bitcoin has put forth, and has even exceeded BTC, doubling in price in the last 30 days! With another sixteen percent rise, LTC has broken through the $160 barrier, and is now at its highest level since April 2018. While Bitcoin is older and more popular, Litecoin is preferred by many because of the faster transaction speeds and lower fees.
#2: Loopring (LRC) ($0.2439, +36.72%)
Loopring, the open-source protocol for building non-custodial decentralized exchanges, rose 36 percent on the back of Ethereum’s rise. LRC has quietly gained over 1000% in the past year, growing from 2 cents a coin to now over 25 cents. Loopring, run on the ETH network, uses innovative technology to solve the problems of centralized cryptocurrency exchanges, which is the loss of assets. LRC allows the user to be in control of the assets throughout the trading process, deterring hackers.
#1: Nano (NANO) ($1.59, +51.63%)
The biggest winner on the crypto market today was NANO, gaining over 51 percent! Nano is a peer-to-peer digital currency, made with ultrafast transactions and zero fees over a secure, decentralized network. Fans have clamored to this cryptocurrency because of the unique prospect of not having to pay large fees, like what is the case these days with Bitcoin and Ethereum. The reason that Nano is able to function on zero transaction fees is because miners and additional blocks are not needed to be verified.
Note that these prices are as of 9:00 PM EST/6:00 PM PST on the given day, and might not reflect the current price of the coin at the time of viewing this post.
