Cryptocurrency Round-Up: Twitch Accepts Dogecoin and Saxo Bank Says Bitcoin is 'Fad'

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).

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

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.

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

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

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

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Cryptocurrency Round-Up: Twitch Accepts Dogecoin and Saxo Bank Says Bitcoin is 'Fad'