The crypto market has bounced back from a spot of weakness on Tuesday with a small push higher during overnight trade.
This has left the entire market with an improved market value of US$263.9 billion according to Coin Market Cap.
Here is the state of play on Wednesday morning:
The Bitcoin (BTC) price has climbed 1.8% over the last 24 hours to US$6,830.69 per coin, lifting the world’s largest cryptocurrency’s market capitalisation to US$115.9 billion. This equates to 43.9% of the entire market. The bitcoin price has bounced back despite more talk about the bubble bursting yesterday. According to Bank of America Corp, the cryptocurrency is following the same downward spiral as other mega-asset bubbles.
The Ethereum (ETH) price has been a strong performer and is up almost 4% since this time yesterday to US$409.26. This has left Ethereum with a market capitalisation of US$40.4 billion.
The Rpple (XRP) price has climbed 1.2% during the last 24 hours to 49.1 U.S. cents, giving the popular altcoin a market capitalisation of US$19.2 billion.
The Bitcoin Cash (BCH) price has pushed almost 3% higher during the period to US$650.50 per token. This leaves the bitcoin spin-off with a market capitalisation of US$11.1 billion.
The Litecoin (LTC) price has failed to follow the rest of the crypto market higher overnight and is down slightly over the last 24 hours to US$114.00 per coin. This has reduced Litecoin’s market capitalisation to just under US$6.4 billion. On Friday Litecoin is due to launch its smart contracts feature, which many experts believe will offer support to the cryptocurrency’s price.
Outside the top five there were strong gains being seen across the board. Leading the way were the EOS (EOS), Cardano (ADA), and Stellar Lumens (XLM) prices. These three altcoins are up 3.2%, 5%, and 2.5%, respectively, since this time yesterday.
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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 Scott Phillips.