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%.

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