The crypto market has bounced back with a bang overnight on Thursday.
This has led to the total value of the cryptocurrency market rising to US$291.1 billion according to Coin Market Cap, up over 8.5% since this time yesterday.
Here is the state of play on Friday morning:
The Bitcoin (BTC) price has pushed 6% higher over the last 24 hours to US$6,696.34 per coin, increasing its market capitalisation to US$114.5 billion. Despite concerns over price manipulation, hacking, and bearish trader sentiment, Bitcoin has managed to make a significant push higher overnight.
The Ethereum (ETH) price has stormed 10% higher to US$519.89 per token, taking ETH's market capitalisation up to US$52 billion. Ethereum received a boost overnight when the Wall Street Journal reported that a senior U.S. Securities and Exchange Commission official has revealed that the cryptocurrency will not be regulated as a security.
The Ripple (XRP) price has surged 8.8% higher during the period to 57 U.S. cents, increasing the popular alt coin's market capitalisation to just under US$22.4 billion.
The Bitcoin Cash (BCH) price has risen 8% since this time yesterday to US$898.12. The Bitcoin offshoot now has an improved market capitalisation of just under US$15.5 billion.
The EOS (EOS) price has been the biggest mover amongst the major coins over the period with a 13.5% gain to US$11.47. EOS now has a market capitalisation of US$10.3 billion. Traders have been piling in after the EOS blockchain network finally went live. After a successful voting process, the software which Block.one raised more than $4 billion to develop during its year-long initial coin offering (ICO) will now be accessible.
The gains have been just as strong outside the top five during the last 24 hours. Litecoin (LTC) is up 9.5%, Cardano (ADA) has risen 11.3%, Stellar (XLM) has climbed 9.8%, IOTA (MIOTA) has jumped 9.8%, and TRON (TRX) has pushed 10.5% higher.
