Much to the delight of crypto traders, It has been yet another day of gains for the cryptocurrency market. This brought the value of the entire market to a massive US$504 billion according to Coin Market Cap.
Here’s what you missed over the last 24 hours:
The bitcoin (BTC) price has climbed 3% higher since this time yesterday to US$11,203. This has lifted its market capitalisation to over US$189 billion, approximately 37.5% of the entire market. Bitcoin has been on a roll since fears over tighter regulation subsided. This has led Wall Street strategist Tom Lee to state that bitcoin will likely rise to US$25,000 this year, according to CNBC.
The Ethereum (ETH) price is up 0.25% during the last 24 hours to US$948.61. This small gain means that the world’s second-largest cryptocurrency now has a market capitalisation of US$92.7 billion.
The Ripple (XRP) price has also edged higher during the period to US$1.15 per token. The popular altcoin’s market capitalisation now stands at just under US$44.8 billion.
Bitcoin spin-off Bitcoin Cash (BCH) has been one of the better performers on the market over the last 24 hours. It is almost 1% higher to US$1,537 per token during this time, lifting the spin-off’s market capitalisation to US$26.1 billion.
The Litecoin (LTC) price is mostly flat following its hard fork. The Litecoin price is currently fetching US$226.19 per coin, giving it a market capitalisation of US$12.5 billion.
Its spin-off, Litecoin Cash (LCC), has had an incredibly strong start to life as a cryptocurrency. Although at one stage it sank to as low as US$1.40 per coin, Litecoin Cash has now rocketed 433% over the trading period to US$6.96 according to Coin Codex. It had, however, been as high as US$9.61 just a few hours ago.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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