Bitcoin price cryptocurrency
Saxo Bank panel claims bitcoin is a "fad", while streaming service Twitch embraces dogecoin. IBTimes UK

The price of bitcoin has continued to slide, falling by a further 3% over the last 24 hours to take its market capitalisation below $5bn, (£2.5bn).

Dogecoin and peercoin also saw their values fall by a similar margin, while litecoin, darkcoin and namecoin remained relatively stable.

The biggest mover across all markets was solarcoin, a digital currency distributed to incentivise the use of solar energy over the next four decades. Solarcoin rose in value by 65% since yesterday to take its market cap above $250,000, (£156,000).

Saxo Bank panel says bitcoin is a 'fad'

Senior vice president at Eurex Exchange Javier Tordable called bitcoin a "fad" at a panel discussion at Saxo Bank's Trading Debates this week.

Saxo Bank

Tordable did suggest that the block chain through which bitcoin transactions are processed holds potential for storing and sharing data in the future.

"We are very interested in the technology behind it, the block chain," Tordable said, according to CoinDesk, before stating that he would like to explore the idea of storing data in a "multi-channel" or distributed manner.

Twitch accepts dogecoin

Online streaming service Twitch has started accepting dogecoin as a payment option for its premium service.


Dogecoin is the second cryptocurrency to be accepted by the popular gaming venue, after it began accepting bitcoin earlier this year.

Google-owned Twitch offers other unusual payment methods to its 55 million monthly viewers, including Burger King and Subway gift cards.

Also in operation on Twitch's site is the dogecoin tipping platform DogeTipBot. The DogeTipBot first appeared on the social news site Reddit and quickly became a popular way for users to express their approval of another user's comments.