Cryptos steady; Ethereum co-founder Lubin says blockchain can add wealth


Cryptocurrency prices on Monday were trading mostly higher to begin the week.

Bitcoin,

BTCUSD, +0.12%

 the world’s largest digital currency, was last fetching $6,356.21, up 0.2% since Sunday at 5 p.m. Eastern Time on the Kraken exchange. Over the weekend, the price of a single bitcoin slipped below $6,300 for the first time since Oct. 31.

The crypto market cap was last at $212 billion, according to data from CoinMarketCap.

Decentralize technology will generate wealth, says Lubin

Speaking at the New York Times Luxury Conference on Monday, Joseph Lubin, the co-founder of ethereum, said blockchain, the technology that underpins all cryptocurrencies, has the potential to create wealth.

“We are going to be more in control of our identity and our agency on these different decentralized networks and I think that’s going to create more wealth… more interest in expressing ourselves, and I think there will be more appetite for luxury than less,” said Lubin.

Since founding the popular blockchain, the Canadian entrepreneur is now the CEO of software-production company ConsenSys.

Read: Bitcoin may be an unlikely winner in midterm elections

What are altcoins and futures doing?

Altcoins, coins other than bitcoin, were mixed in Monday trading. Ether,

ETHUSD, -0.04%

was up 0.3% at $208.60, Bitcoin Cash

BCHUSD, -0.86%

was down 2% at $509.00, Litecoin

LTCUSD, -0.32%

was unchanged at $50.37 and XRP,

XRPUSD, -1.32%

was up 3.7% at 52 cents.

Bitcoin futures had a mixed day Monday. The Cboe Global Markets November contract

XBTX8, -0.24%

finished up 0.1% at $6,320 and the CME Group November contract

BTCX8, -0.32%

ended the session down 0.2% at $6,325.

Read: Bitcoin trapped in tighter range than Mexican peso, Brazilian real and other popular currencies

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