After a bit of a slow weekend the cryptocurrency market found strength late on and zoomed higher on Sunday.
This built on last week’s strong gains and took the value of the entire industry up to US$333.4 billion according to Coin Market Cap. Which equates to a gain of approximately 12% since this time last week.
Here is the state of play on Monday morning:
The bitcoin (BTC) price is up 3% over the last 24 hours to US$8,268 per coin, giving the world’s largest cryptocurrency a market capitalisation of US$140.4 billion.
The Ethereum (ETH) price has pushed 3.7% higher during the period to reach US$523.29 per token. This gives Ethereum a market capitalisation of US$51.7 billion. Last week Ethereum was given a lift from the release of Golem, a peer-to-peer market that puts a computer’s excess CPU power to use for other people.
The Ripple (XRP) price has continued its strong run and is up 5.5% since this time yesterday to 67.3 U.S. cents. This latest gain means that Ripple’s market capitalisation has risen to US$26.3 billion. Ripple was given a major boost last week when Spanish banking giant Santander launched an international money transfer platform using its technology.
The Bitcoin Cash (BCH) price climbed over 4.5% during the last 24 hours to US$774.77 per token. This took the bitcoin offshoot’s market capitalisation to just over US$13.2 billion.
The Litecoin (LTC) price has put on a gain of 2.5% since this time yesterday to US$130.55 per coin, giving Litecoin a market capitalisation to US$7.3 billion. This means that Litecoin has now regained its position as the world’s fifth largest cryptocurrency after overtaking EOS (EOS).
EOS dropped down to sixth position after profit taking weighed on its performance following the free coins airdrop.
Elsewhere, outside the top six there were impressively strong gains for Cardano (ADA), Stellar Lumens (XLM), and IOTA (MIOTA). These three altcoins were up 8%, 17%, and 18%, respectively, over the last 24 hours.
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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.