Ethereum Hits Record High Above $1,000 As Ripple Sinks On Coinbase Denial

Whether it is Coinbase's denial of plans to include Ripple on its network or simply a broader understanding of the asset, 2018's high-flyer is lagging today as investors regain their appetite for Ethereum (record highs over $1000) and Bitcoin (over $16k) overnight.

Ripple began its decline yesterday, but extended losses today as CoinTelegraph reports that the popular exchange and wallet platform Coinbase has refuted recent rumors that Ripple (XRP) or other cryptocurrencies will soon be integrated into GDAX, its flagship digital currency exchange.

CEO Brian Armstrong firmly stated that neither Coinbase and GDAX have made a decision to integrate any cryptocurrency or digital asset in the short-term. The company said in a blog post:

“A committee of internal experts is responsible for determining whether and when new assets will be added to the platform in accordance with our framework. These individuals — and all employees at Coinbase — are subject to confidentiality and trading restrictions.

As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.”

Coinbase’s statement was released following a spate of unverified rumors that claimed GDAX is planning to integrate XRP. The scale of the rumors, which largely circulated on Reddit and Twitter, increased to the point where the company felt the need to refute them, as the price of XRP surged.

The reaction is clear, as Crypto traders rotate back to ETH and BTC...

 

https://www.zerohedge.com/sites/default/files/inline-images/20180105_BTC2.jpg

 

Overnight saw Bitcoin surge back above $16,000...

 

https://www.zerohedge.com/sites/default/files/inline-images/20180105_BTC1.jpg

 

And Ethereum hit new record highs above $1000 for the first time...

 

https://www.zerohedge.com/sites/default/files/inline-images/20180105_BTC3.jpg

That is a double from the 12/22 lows.

Ethereum’s market capitalization rose above $100 billion for the first time on Thursday, according to Coinmarketcap data. 

Earlier this week, ethereum founder Vitalik Buterin announced the launch of two subsidies to support research into the scalability and development of the cryptocurrency.

Comments

Dutti buzzsaw99 Fri, 01/05/2018 - 08:22 Permalink

To all the "old-timers" on Zerohedge:
It's never too late to learn and adapt.

Crypto currencies are here to stay and grow in importance.

Me too, I have been putting off getting educated about crypto for too long, until now. Well, better late than never.

The correction during the last few weeks has given me the opportunity to build a position in Bitcoin and I believe now is still a good time to buy some.

Of course I still keep my physical gold, but I expect the significant appreciation to happen in crypto.

We are only in the early innings and growing pains are to be expected in this phase.

Invest some time and check out some You Tube videos about crypto. A good start would be to look into Andreas Antonopoulos videos.

In reply to by buzzsaw99

HenryKissinger… buzzsaw99 Fri, 01/05/2018 - 08:31 Permalink

have you read :

-Kevin Kelly 's 1994 book "Out of Control: The New Biology of Machines, Social Systems, and the Economic World" (chapter 12 E-money) or

-NSA 's 1996 "HOW TO MAKE A MINT THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH"

bitcoin started in 2009, so think about it.

In reply to by buzzsaw99

mobius8curve HenryKissinger… Fri, 01/05/2018 - 08:38 Permalink

Yep that is the direction they are heading and it will lead us here by the next decade:

Revelation 13:16-17 And he causeth all, the small and the great, and the rich and the poor, and the free and the bond, that there be given them a mark on their right hand, or upon their forehead; (17) and that no man should be able to buy or to sell, save he that hath the mark, even the name of the beast or the number of his name.

Our eternal destiny will be determined by where our name appears:

https://sumofthyword.com/2013/03/06/book-of-life/

Prepare accordingly!

 

In reply to by HenryKissinger…

FactDog buzzsaw99 Fri, 01/05/2018 - 08:50 Permalink

At least the ignorant ones are going down fighting!   Buzzsaw is a relic of the old and misses the value of distributed networks to change the way the world works.  He will be right once in awhile as some fourth gen altcoins bite the dust due to greed and incompetence, but in general, this type of investor or troll will be forgotten and left behind. 

 

BTW Where is Fonstar? He was Canadian and along with Bindar Dundat (another Canadian), they carried the flame for crypto in 2014-15.  They must be on an Island somewhere enjoying their wealth. I actually drank their cool-aid.  :-)  This is just the beginning and the best is yet to come.

In reply to by buzzsaw99

RSDallas Dutti Fri, 01/05/2018 - 08:36 Permalink

I have no doubt that there this crypto mania will lead to some sort of change in our International financial payments, clearing and records systems.  A currency change???   I doubt it, for the sole reason that our Government/ Federal Reserve Mafia will flat ass not relinquish their control over the international monetary system.  Much less the International Banking Cartel.  Period!  Will there be an eventual change in the International clearing and payment system?  Yes.  Will it possibly be "Blockchain" driven?   Probably.  As a matter of fact, blockchain technology will be applied to many industries that require a constant accounting of transactions.  In the meantime, there will be some definite winners of those who cash in their cryptocurrencies for the good old greenback.  There will also be a HUGE pool of individuals who will lose a huge amount of wealth.  I suggest that this thing works itself out by mid-year, no later than the end of the year.

In reply to by Dutti

dognamedabu Dutti Fri, 01/05/2018 - 09:20 Permalink

Which coin do you suggest to buy? There are 1000+ and If recent history is any guide probably 10000 more coins in development. Imo the tech has major promise but the fact there isn't any real value behind then tells me that every single one has the staying power of a boy band from the 1980's

In reply to by Dutti

Exponere Mendaces tmosley Fri, 01/05/2018 - 11:03 Permalink

tmosley doesn't like facts that don't jive with his current shitcoin fascination.

For example - https://hackernoon.com/why-i-find-iota-deeply-alarming-934f1908194b

* Rolling your own crypto algos is beyond stupid, no cryptographer recommends using non-vetted non-peer-reviewed code

* Using "ternary notation" so all their internal functions have to be wrapped in code handling this needless abstraction

* A central "collector" that they double-pinky-swear will not be needed in the nebulous future -- making it super centralized

But as usual, its just "not a argument" and "cognitive dissonance" from tmosley -- instead of an actual rebuttal, which he doesn't have.

Goes double for that other shitcoin, BCash - he's all-in on that technical abortion too.

 

In reply to by tmosley

Nature_Boy_Wooooo tmosley Fri, 01/05/2018 - 11:44 Permalink

It's a shit coin.

 

You said it yourself......."huge corporate partnerships."

 

Just like Facebook, Twitter, and Google use their centralized platforms to censor their political opponents....... centralized shit coins will eventually do the same.

Any crypto that has a PR team is a shit coin.

 

In reply to by tmosley

Brazen Heist Nature_Boy_Wooooo Fri, 01/05/2018 - 12:18 Permalink

DAG is interesting tech, but is in its infancy. I wouldn't call it a 'shitcoin' but it faces numerous challenges.

IOTA are not fully open-source (a big problem in the open source community) and their network is subject to frequent spamming attacks. They are using their own hashing function (Curl) which hasn't been rigorously tested (perhaps some hackers will). Their wallet sucks big time and is not user-friendly. They don't have enough full nodes yet. IOTA needs more time to develop, hence why their price has come down.

They have also chosen to work with ternary computations in their code, while everybody else uses binary. It's not yet apparent if this will be bad or good over the long term.

In reply to by Nature_Boy_Wooooo

MayIMommaDogFa… Nature_Boy_Wooooo Fri, 01/05/2018 - 12:57 Permalink

WTF is a "shit coin" -- how lazy can you be? 

Spread information not cute neologisms.

The only thing self-evident about the term "shit coin" is that is clearly pejorative, indicating that you hold a negative opinion about IOTA.

Please share the reason(s) why you hold this opinion.

DISCLAIMER: I am holding 0 IOTA and have not formed a cogent opinion about it at this point.

In reply to by Nature_Boy_Wooooo

TeaClipper dognamedabu Fri, 01/05/2018 - 10:43 Permalink

Try looking for ICOs that have a product with a genuine reason to use blockchain technology. A lot of ICOs are simply using the opportunity to raise a lot of cash from investors without the hassle of regulation, but are not making a product or service that genuinely needs a distributed leger to function.

Pillar is still a steal at anything under a dollar, couple of months it will be double digits prior to its first wallet launch.

In reply to by dognamedabu

RedDwarf dognamedabu Fri, 01/05/2018 - 10:54 Permalink

Veri, salt, omg, pay, ltc (i like ltc again), monero, populous, eos, eth, dash, pillar.  Most of these I think will perform well over the next year.  In the end you should do your own research though.

LTC is very low right now, and it is a solid coin with a long history.  It is likely at it's floor and is suppressed due to the creator selling off.  It has a good chance of breaking out soon.  SALT is now up and running, yet price has not moved for a while.

Possible moonshots are veri and eos.  You can't just buy eos though, you need to register them.  Go see videos on how to do that.  The EOS platform will take the snapshot later this year.  Unregistered eos will become worthless.  Veri is about to take their beta public.  Veri is the biggest high risk / high reward bet IMO.

Monero looks like it is going to become the primary dark coin.  It's going to keep gong up, especially if the IRS gets too stupid about crytpos.

In reply to by dognamedabu

HRClinton Dutti Fri, 01/05/2018 - 10:33 Permalink

"Making money", ie converting Crypto Currency (CC) electrons into Bankster electrons is certainly one option.

As a libertarian however, I prefer to remove bankster fiat from their VoM and move it into the PARALLEL Economy. 

Where it remains. Decentralized, untrackable, etc.

Parallel Economy =

   = Barter + PM + CC + Gems + RE + Hemp + Self Reliance (off-grid household)

   = Freedom  the Bankster Plantation, where you are Subjects and Slaves.

(FWIW, I re-allocated a portion of my 5 y.o. BTC into other CCs, AU, Diamonds, and a condo in Switzerland. If I want fiat, I sell AU, not CCs. I use a Buy & Hold strategy, the way Warren Buffet did with his stocks years ago.)

Once you free yourself, why TF would you want to rejoin the Plantation? Why?

In reply to by Dutti

peekster Fri, 01/05/2018 - 08:29 Permalink

I'd love to see crypto really take off and change the world but the headwinds of banks and governments will be too strong to overcome.

There will be official crypto and blockchain tech in the future, just not what we have in the lime light right now. "they" will not loose control.

dumluk peekster Fri, 01/05/2018 - 09:19 Permalink

Every time that  somebody or some movement raises its head to challenge the cabal, whether its alternative news, medicine or money, the Cabal ends up buying it out and controlling the former opposition......I suspect cryptocurrency will be no exception......but in the meantime could be fun to play......

In reply to by peekster