HYCM has launched trading on two further altcoins, Ethereum and Litecoin, adding XRP/USD and BCH/USD to its growing range. The move follows the recent introduction of Bitcoin trading with the BTC/USD pair and follows unprecedented demand from clients.
Stavros Lambouris, CEO International for HYCM commented,
“The decision to expand our cryptocurrency CFD offering follows the impressive returns recently generated and increased demand from our clients wishing to capitalise on their performance without needing to physically purchase them. HYCM is one of the first brokers to offer traders a range of cryptocurrencies, reinforcing our position as one of the industry’s leading brokers”.
The cryptocurrency economy has seen massive growth over the last few months with the price of Bitcoin having risen more than 300% year-to-date. Despite some recent volatility, Bitcoin has retained the majority of these gains with prices currently flying high around the $4,000 mark.
Ethereum prices meanwhile, have risen by as much as 5,000% percent since January 2017 as appetite for digital assets continues to grow. Ethereum, currently trading at around $324, is the second-largest cryptocurrency by market capitalisation and is worth $30.57 billion versus bitcoin's $68.84 billion valuation.
Litecoin prices have also climbed in recent times, currently taking the number six spot in the list of the world’s most valuable cryptocurrencies. Presently trading against the US dollar at $47 with a $2.47 billion market cap, Litecoin is one of the few cryptocurrencies to have remained fairly stable during market volatility.
The recent boost in the market capitalisation of cryptocurrencies reflects the continuing interest in blockchain technology.
