Crypto update: Bitcoin (BTC), Ripple (XRP), and Bitcoin Cash (BCH) rocket higher

The cryptocurrency market has continued its incredible run overnight and pushed significantly higher.

This has led the value of the entire crypto market to rocket over 9.5% higher since this time yesterday to US$388 billion according to Coin Market Cap.

Here is the state of play on Saturday morning:

The bitcoin (BTC) price has climbed 5.5% higher over the last 24 hours to US$8,734 per coin, increasing its market capitalisation to US$148.4 billion. Barring a major change of sentiment this weekend, bitcoin is on course to make it two weeks in a row of gains. This will be the first time it has achieved this in 2018.

The Ethereum (ETH) price has risen almost 9% over the period to reach US$611.49 per token. Ethereum now has a market capitalisation of US$60.5 billion.

The Ripple (XRP) price has been the best performing major coin with a 20.5% gain over the last 24 hours to 92.8 U.S. cents, lifting its market capitalisation to US$36.3 billion. The popular altcoin has been on fire since banking giant Santander announced that it was using its technology for an international money transfer platform.

The Bitcoin Cash (BCH) price has rallied 18% since this time yesterday to US$1,134.65 per token. The bitcoin spin-off now has a market capitalisation of almost US$19.4 billion. Traders have been fighting to get hold of BCH ahead of its hard fork next month. The spin-off will soon have its own spin-off by the name of Bitcoin ABC.

The EOS (EOS) price has surged 19.8% higher during the period to US$11.27. This lifts the EOS market capitalisation to US$9.1 billion, overtaking Litecoin (LTC) to become the fifth-largest cryptocurrency.

Outside the top five the gains were once again just as strong over the period.

Litecoin rose 6% to US$154.24, Cardano (ADA) climbed 10.8% to 30 U.S. cents, Stellar Lumens (XLM) is up 7.5% to 39.34 U.S. cents, IOTA (MIOTA) has pushed 13% higher to US$2.00, and NEO (NEO) is 6.4% higher at US$78.55.

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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.

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