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Crypto update: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, and Litecoin surge higher

The cryptocurrency market has bounced back after a disappointing week of trade with strong gains over the weekend.

This has led to the entire value of the crypto market rising to US$391.5 billion according to Coin Market Cap, which is 7.2% higher than where it stood on Friday afternoon.

Here is the state of play on Monday morning:

The Bitcoin (BTC) price has climbed 3% over the last 24 hours to US$8,532.88 per coin, giving the world’s largest cryptocurrency a market capitalisation of almost US$145.5 billion. Bargain hunters appear to have swooped in after sizeable declines over the last ten days.

The Ethereum (ETH) price is up 2.7% over the period to US$720.56 per token. This lifts Ether’s market capitalisation to over US$71.7 billion. Reports in Forbes stating that Apple co-founder Steve Wozniak believes the Ethereum platform could be the new Apple has certainly been a boost to sentiment.

The Ripple (XRP) price has risen 3.5% since this time yesterday to 70 U.S. cents per token, giving Ripple a market capitalisation of almost US$27.5 billion.

The Bitcoin Cash (BCH) price has been a big mover and is up over 9% during the last 24 hours. This has left the Bitcoin offshoot with a market capitalisation of close to US$22.2 billion. Last week Bitcoin Cash successfully upgraded, increasing its block size to a massive 32MB. This is expected to increase the number of transactions it can handle and boost its appeal for real-world use.

The EOS (EOS) price has pushed 6.5% high during the period to US$14.02, increasing its market capitalisation to almost US$12.2 billion.

Outside the top five the gains were equally strong over the last 24 hours. Litecoin (LTC) is up 3.1%, Cardano (ADA) is 5% higher, Stellar (XLM) has risen 4.1%, IOTA (MIOTA) is up 3%, and TRON (TRX) has been the star of the show with an 11.3% gain.

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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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