Crypto News | New hot cryptocurrency

2017 was definitely the year of cryptocurrencies. Many new coins have entered the market, increased their volatilities and became recognized as legit investment targets. In today’s news review, we’ll present you one cryptocurrency that has a great start to 2018. Its name is stellar and in 2018 has already risen by 65 percent. That way it entered the list of top 10 cryptocurrencies ranked by market capitalization. This new hot cryptocurrency has one very big advantage – its transactions take only two to five seconds and users are allowed to exchange very quickly government-backed currencies (for example, turning dollars into euros). As for the broader support, we would like to mention that IBM is using stellar’s network in order to develop a cross-border payment system, so we can say that this coin could very well have a bright future.

As we said, our new hot cryptocurrency has increased its value a lot in 2018, and its price is now 91.85 cents, which is a record price. Another top gainer in 2018 so far is ripple. On Wednesday it reached a record high of $2.94. Its market capitalization is now $112.5 billion and it’s second on the list of capitalization, right after bitcoin (more than $250 billion).

In the second part of our review we bring you some important business and economic information. Tesla Inc delayed the production target for its new Model 3 sedan for the second time on Wednesday. We don’t have to highlight that investors were disappointed, especially if we keep in mind that the company burned $1.1 billion in capital expenditures in its third quarter. This model is critical to Tesla’s long-term success because it’s of the most affordable of its cars and it should make of the company a mass producer. There are a lot of rivals in the niche so we should keep our eyes on the situation with Tesla. As for the other news, the dollar index measured against a basket of six major currencies slipped to its lowest since Sept. 20 on Tuesday, but today it recovered. 

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Author: Max Rothstein

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