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Today In Cryptocurrency: Goldman Adds Crypto Desk, Information Officers Shun Blockchain

May 3, 2018 4:55 pm
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The cryptocurrency maintained its bullish momentum on Thursday, with most major currencies trading up by more than 3 percent on the day. Here’s a look at some of the headlines that were moving the cryptocurrency market today and which currencies were on the move.


Goldman Sachs Group, Inc (NYSE:GS) officially announced it's opening a cryptocurrency trading desk. In an interview with the New York Times, executive Rana Yared said she “would not describe myself as a true believer who wakes up thinking bitcoin will take over the world.” In November, Goldman CEO Lloyd Blankfein said “maybe bitcoin is a kind of bubble.”

Despite enthusiasm for blockchain technology among cryptocurrency investors, a new survey by Gartner revealed very few chief information officers in the corporate world are actually considering utilizing the technology that underlies many cryptos. Among those surveyed, only 1 percent of CIOs said their company had already adopted some form of blockchain technology, 8 percent said they're planning on experimenting with blockchain tech in the near future and 77 percent said they have no interest in blockchain and/or no intention of exploring its use.

In an interview with Fortune, Reddit cofounder Alexis Ohanian predicted Ethereum prices would hit $15,000 by the end of 2018 and bitcoin prices would reach $20,000 this year. Ethereum prices jumped 12 percent on Thursday after Ohanian said he's particularly bullish on Ethereum because “people are actually building on it.”

Price Action

The Bitcoin Investment Trust (OTC:GBTC) traded at $15.53, up 7.5 percent.

Here’s how several top crypto investments fared Thursday. Prices are as of 3:45 p.m. ET and reflect the previous 24 hours.

  • Bitcoin gained 5.7 percent to $9,654;
  • Ethereum gained 12.4 percent to $761;
  • Ripple gained 3.6 percent to 88 cents;
  • Bitcoin Cash gained 2.9 percent to $1,492;
  • EOS gained 2.3 percent to $18.18.

The three cryptocurrencies with at least $1-million market caps that have made the biggest gains over the past 24 hours are:

  • GCN Coin: $7.4-million market cap, 145.7-percent gain.
  • BitcoinDark: $317.1-million market cap, 142.0-percent gain.
  • BritCoin: $2.0-million market cap, 119.1-percent gain.

The three cryptocurrencies hit hardest in the past 24 hours were:

  • SmileyCoin: $1.0-million market cap, 50.9-percent decline.
  • InflationCoin: $1.0-million market cap, 33.4-percent decline.
  • AurumCoin: $10.0-million market cap, 25.2-percent decline.

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