The cryptocurrency market has continued its strong run and climbed notably higher over the last 24 hours.
With gains being seen across the board, the entire value of the crypto market has climbed US$12 billion or 3.5% over the last 24 hours to US$354.2 billion according to Coin Market Cap.
Here is the state of play on Friday morning:
The bitcoin (BTC) price is up 1.1% during the last 24 hours to US$8,234.40 per coin, lifting its market capitalisation to US$139.9 billion. Bitcoin miners will be hoping this strong run continues over the next few days. A note out of Morgan Stanley estimates that miners are losing money when the bitcoin price is below US$8,600.
The Ethereum (ETH) price has surged 7% higher over the last 24 hours to US$554.83 per token. This gives the world’s second largest cryptocurrency a market capitalisation of US$54.9 billion.
The Ripple (XRP) price has pushed almost 6% higher since this time yesterday to 74.24 U.S. cents, increasing the popular altcoin’s market capitalisation to over US$29 billion.
The Bitcoin Cash (BCH) price has been the biggest mover among the major coins with a gain of almost 9% during the last 24 hours to US$958.02 per token. The bitcoin offshoot’s market capitalisation has now increased to US$16.4 billion. Traders have been fighting to get hold of BCH after one crypto investment firm suggested that it was on the verge of breaking out.
The Litecoin (LTC) price has climbed 4.3% during the period to reach US$144.73 per coin. Litecoin now has a market capitalisation of just over US$8.1 billion.
The gains were once again just as strong outside the top five as traders continue to snap up altcoins.
This led to the EOS (EOS) price rising over 5% to US$9.27, the Cardano (ADA) price climbing 5.5% to 26.9 U.S. cents, and the Stellar Lumens (XLM) price pushing 5.4% higher to 36.3 U.S. cents.
Sentiment certainly is strong at the moment, especially for altcoins, and if it remains this way then I can see the market climbing higher still. However, it doesn’t take much to spook the market, so traders ought to stay prepared for that sudden change of sentiment if and when it comes.
For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..
But knowing which blue chips to buy, and when, can be fraught with danger.
The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."
Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.
The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.
Click here to claim your free report.
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.