The crypto market has had a strong weekend and managed to build on last week’s stellar gains.
With solid gains being seen across the board, the entire value of the crypto market has risen to US$395 billion according to Coin Market Cap.
Here is the state of play on Monday morning:
The bitcoin (BTC) price has risen 1.3% since this time yesterday to US$8,898,68 per coin, lifting its market capitalisation to US$151.2 billion.
The Ethereum (ETH) price has been a strong performer over the last 24 hours and climbed 5.7% to US$638.97. This takes Ethereum’s market capitalisation up to US$63.25 billion. Traders appear to have responded positively to plans to improve the code of the Ethereum network.
The Ripple (XRP) price has continued its strong run and is up 4% during the last 24 hours to 88.9 U.S. cents, increasing its market capitalisation to almost US$34.8 billion. Ripple has been on fire since banking giant Santander announced it was using its technology for a money transfer platform.
The Bitcoin Cash (BCH) price has been the best performing major coin over the last 24 hours, rising 9.8% to US$1,239.15. This means that the bitcoin offshoot’s market capitalisation now stands at just under US$21.2 billion. Crypto traders have been snapping up the popular altcoin in anticipation of its hard fork next month. This hard fork will create another new cryptocurrency by the name of Bitcoin ABC on May 15. Bitcoin ABC is an improved version of BCH and will increase its block size to 32 MB.
The EOS (EOS) price has pushed 6.5% higher to US$11.55 per token, cementing its position as the fifth-largest cryptocurrency with a market capitalisation of almost US$9.4 billion.
Outside the top five there were gains being made by Litecoin (LTC), Cardano (ADA), and Stellar Lumens (XLM). These three altcoins were up approximately 2% each over the last 24 hours. IOTA (MIOTA) was the highlight, though, with an 8.7% push higher to US$2.05.
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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.