MENU

Crypto update: Bitcoin (BTC) and Bitcoin Cash (BCH) rebound, Ripple (XRP) and EOS (EOS) sink lower

I think it is fair to say that it has been another soft 24 hours of trade for the cryptocurrency industry.

During this time the cryptocurrency market has edged 0.5% lower to US$432.6 billion according to Coin Market Cap.

Here is the state of play on Thursday morning:

The Bitcoin (BTC) price has edged 0.4% higher during the last 24 hours to US$9,271.42 per coin, giving the world’s largest cryptocurrency a market capitalisation of just over US$157.8 billion. Although Bitcoin is only up marginally over the last 24 hours, it is worth noting that it has bounced 2.5% higher from its low during the period. This could be a sign that buyers are stepping into the market once again.

The Ethereum (ETH) price has fallen 0.5% during the period to US$746.96 per coin. Ethereum now has a market capitalisation of US$74.2 billion.

The Ripple (XRP) price has continued its slide and is lower by 1.8% since this time yesterday to 80.1 U.S. cents. Ripple’s market capitalisation has fallen to US$31.4 billion. Legal issues appear to be weighing on XRP.

The Bitcoin Cash (BCH) price has been the best performing major coin over the last 24 hours with a 2.5% gain to US$1,633.97 per token. This lifts the BCH market capitalisation up to US$28 billion. Bitcoin Cash came under pressure this week after a vulnerability was found its Bitcoin ABC software update. Developers acted quickly to fix the issue and avoid any exploitation.

The EOS (EOS) price has dropped 2.4% lower since this time yesterday to US$17.76 per coin, reducing its market capitalisation to US$15 billion.

Outside the top five it was a similar picture with declines being seen across the board. At the time of writing Litecoin (LTC) is down 1.5%, Cardano (ADA) is off 2.4%, Stellar (XLM) is down 2.5%, IOTA (MIOTA) is lower by 5%, and TRON (TRX) is down 3%.

The Disruptors: 3 Revolutionary Stocks to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.