A number of popular cryptocurrency options have fallen in price in recent weeks, including Litecoin, Dogecoin and Ethereum, as investors have increasingly turned to cheaper alternative cryptocurrencies to fuel their investments.
The Australian Financial Report analysed the top 10 cryptocurrencies listed on Coinmarketcap.com, including the popular Ether, which had a value of $1,096 on Friday.
A price of $15 was the cheapest for the Ether, at $1.20.
However, Ether has been steadily gaining ground in the past week, which has seen its price rise from $15.55 to $20.00.
The next coin that gained ground was Litecoin.
It jumped from $0.85 on Friday to $0,99 on Monday.
Litecoin’s price increased from $11.70 on Friday in the lead up to the cryptocurrency’s price increase, to $15 on Monday, according to Coinmarketmap.
The cryptocurrency’s market capitalisation, which is the amount a cryptocurrency can be traded on, has jumped from over $1 billion at the start of the year to over $2 billion at present, according the report.
The top 10 most popular cryptocurrencies: Coinmarketdata.com