Crypto update: Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Stellar push higher

It has been a positive 24 hours of trade for crypto traders after a number of major coins managed to push higher and help the market rebound from yesterday’s decline.

This has led to the value of the entire market rising almost 1% to US$269.6 billion according to Coin Market Cap.

Here is the state of play on Saturday morning:

The Bitcoin (BTC) price has risen 1.5% since this time yesterday to US$6,675.05 per coin, taking the crypto giant’s market capitalisation up to US$114.4 billion.

The Ethereum (ETH) price has pushed 1.7% higher during the last 24 hours to US$476.42 per token. This has lifted the ETH market capitalisation to US$47.9 billion.

The Ripple (XRP) price has edged ever so slightly higher during the period to 47.6 U.S. cents. This has increased XRP’s market capitalisation to just under US$18.7 billion.

The Bitcoin Cash (BCH) price has climbed 0.5% since this time yesterday to US$733.42 per token. This gain means the Bitcoin offshoot now has a market capitalisation of just over US$12.6 billion.

The EOS (EOS) price has been the worst performer in the top five with a 1.7% decline over the last 24 hours to US$8.64. This decline reduced the EOS market capitalisation to just over US$7.7 billion.

Outside the top five things were not quite as positive. While the Litecoin (LTC) price has been flat at US$83.08 and Stellar (XLM) has raced 2.3% higher, there have been declines for Cardano (ADA), IOTA (MIOTA), and Tether (USDT).

The IOTA price has been a particularly poor performer and shed 5.6% of its value since this time yesterday. The Internet of Things cryptocurrency was a big mover last week, though, which could mean that this is a case of profit taking.

Traders piled into IOTA after it appointed an experienced auto industry executive. IOTA is believed to be targeting the automated vehicle market and many believe this appointment could open the door to major auto manufacturers.

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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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