Crypto update: Bitcoin and Litecoin higher, Ripple, Bitcoin Cash, EOS, and Cardano sink

The Bitcoin and Litecoin prices have pushed higher, but Ripple, Bitcoin Cash, and EOS prices have sunk lower…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It was a reasonably mixed 24 hours of trade for the cryptocurrency market on Monday.

This led to the entire value of the market edging slightly lower to US$408.6 billion according to Coin Market Cap.

Here is the state of play on Tuesday morning:

The Bitcoin (BTC) price is up 1% over the last 24 hours to US$8,775.94 per coin, lifting its market capitalisation to US$149.5 billion. The annual Consensus New York conference is underway at the moment and traditionally has a positive impact on the Bitcoin price.

The Ethereum (ETH) price hasn't moved since this time yesterday and remains flat at US$734.81. Ethereum has a market capitalisation of just under US$73.1 billion. Futures exchange CME launched indexes for Ethereum overnight, which many are interpreting as a sign that Ethereum futures could be on the horizon.

The Ripple (XRP) price is down 0.5% over the last 24 hours to 74.4 U.S. cents, reducing its market capitalisation to just over US$29.1 billion.

The Bitcoin Cash (BCH) price has tumbled 1.5% since this time yesterday to US$1,465.31 per token, leaving it with a market capitalisation of US$25.1 billion. The Bitcoin Cash price has weakened ahead of its highly anticipated Bitcoin ABC upgrade later today. That upgrade will increase the coin's block size fourfold to 32MB, allowing it to handle more transactions than many of its peers. Experts believe this could lead to increased adoption in the real world.

The EOS (EOS) price is down almost 5% over the last 24 hours to US$14.29, reducing its market capitalisation to US$12.2 billion. On Monday Commonwealth Bank of Australia (ASX: CBA) CFO Rob Jesudason quit after less than a year at the bank to become chief operating officer and group president of the company behind the EOS cryptocurrency, Block.one.

Outside the top five it was a similar story with Litecoin (LTC) pushing 3.5% higher over the period, but Cardano (ADA), Stellar (XLM), IOTA (MIOTA), TRON (TRX) all sinking lower.

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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »