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Ethereum co-founder Lubin says blockchain can add wealth
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Ethereum co-founder Lubin says blockchain can add wealth

ryptocurrency prices are trading marginally higher to begin the week.

Bitcoin, BTCUSD, +0.54%  the world’s largest digital currency, was last fetching $6,381.71, up 0.6% 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.

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.

What are altcoins and futures doing?

Altcoins, coins other than bitcoin, were moving higher in Monday trading. Ether,ETHUSD, +1.00% was up 1.4% at $210.72, Bitcoin Cash BCHUSD, +0.98% was up 1.4% at $526.90, Litecoin LTCUSD, +0.28% had gained 0.3% at $50.57 and XRP, XRPUSD, +4.20% was up 0.6% at 50 cents.

After ending last week in the red, bitcoin futures have opened higher Monday. The Cboe Global Markets November contract XBTX8, +0.48% was up 0.6% at $6,355 and the CME Group November contract BTCX8, +0.16% was up 0.4% at $6,360.

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