Today In Cryptocurrency: 8Bit Sees Huge Gain, Samsung Explores Blockchain

After a strong week, cryptocurrencies got off to a shaky start this week, with most major currencies trading lower on Monday.

Headlines

Samsung Electronics is reportedly interested in using blockchain technology to streamline its supply chain. According to Bloomberg, Samsung is looking at cutting costs by implementing a blockchain-based system.

Mastercard Inc MA is also hopping on the blockchain bandwagon, exploring ways to use blockchain to facilitate payments. Mastercard is reportedly hiring as many as 175 blockchain experts.

CNBC reported that bircoin traders are expecting a big bounce is price following tax season. Traders are speculating that bitcoin investors have been liquidating their holdings to pay some of the capital gains taxes they owe after a huge 2018 for cryptocurrencies.

Price Action

The Bitcoin Investment Trust GBTC closed at $13.20, down 2.3 percent.

Here’s how several top crypto investments fared on Monday (price as of 3:30 p.m. ET and reflects the previous 24 hours):

• Bitcoin declined 3.1 percent to $8,019;
• Ethereum declined 3.4 percent to $507;
• Ripple declined 1.9 percent $0.65;
• Bitcoin Cash declined 2 percent to $758; and
• Litecoin declined 2.4 percent $127.

Here are the three cryptocurrencies with at least a $1 million market cap that have made the biggest gains over the past 24 hours:

• 8Bit - $1.1 million market cap, 170 percent gain.
• DNotes - $8.8 million market cap, 145.2 percent gain.
• BitWhite - $4.0 million market cap, 135.6 percent gain.

Here are the three cryptocurrencies that were hit hardest in the past 24 hours:

• IncaKoin - $1.2 million market cap, 43.2 percent loss.
• BunnyCoin - $3.3 million market cap, 38.5 percent loss.
• Hexx- $3.4 million market cap, 32.2 percent loss.

Related Links:

How Some Of The Largest Tech Companies Are Investing In Blockchain

Bitcoin Sees Big Price Spike, Other Cryptos Follow Suit