Crypto update: Bitcoin, Ethereum, Ripple, EOS, Stellar, and IOTA surge higher

Much to the delight of traders the crypto market has continued its positive run over the last 24 hours.

This has led to the entire value of the crypto market pushing a further 1.5% higher to US$275 billion according to Coin Market Cap.

Here is the state of play on Thursday morning:

The Bitcoin (BTC) price has continued its rebound and is up 1.1% since this time yesterday to US$6,705.01 per coin. The crypto giant now has a market capitalisation of just under US$114.9 billion and equates for almost 42% of the entire market now.

The Ethereum (ETH) price has bounced back from yesterday’s decline and is up 0.6% over the last 24 hours to US$473.67 per token. This lifts the alt coin’s market capitalisation to US$47.6 billion.

The Ripple (XRP) price has continued its run and is higher by 1.4% to 50.2 U.S. cents. XRP now has an improved market capitalisation of just over US$19.7 billion.

The Bitcoin Cash (BCH) price has remained flat over the period at US$774.21, leaving its market capitalisation on hold at US$13.3 billion.

The EOS (EOS) price has pushed 0.4% higher over the last 24 hours to US$9.04 per token. This gives EOS an improved market capitalisation of US$8.1 billion.

Outside the top five it was a similar story. Although Litecoin (LTC) fell 0.7% and Cardano (ADA) dropped 0.4%, the rest of the top ten were in positive territory.

This included a 2.1% gain by Stellar (XLM), a sizeable 5.3% increase in the IOTA (MIOTA) price, and a small 0.1% push higher by Tether (USDT).

IOTA has been a strong performer after the cryptocurrency announced the appointment of former Volkswagen research director Dr. Klaus Schaaf. IOTA, an Internet of Things cryptocurrency, is targeting the automated car market and Dr Schaaf is expected to be integral to its push. I think IOTA could be one to watch.

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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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