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Crypto update: Bitcoin, Stellar, Cardano push higher, Ethereum, Ripple, Bitcoin Cash tumble

It has been a reasonably mixed 24 hours of trade for cryptocurrency traders.

Despite some sizeable declines from several alt coins, during the period the entire value of the market has risen 1.1% to US$289.7 billion according to Coin Market Cap.

Here is the state of play on Friday morning:

The Bitcoin (BTC) price has pushed 1.9% higher over the last 24 hours to US$7,491.32 per coin. This has lifted the world’s largest cryptocurrency’s market capitalisation to over US$128.5 billion. The prospect of a BlackRock Bitcoin ETF appears to be supporting the Bitcoin price.

The Ethereum (ETH) price has fallen 1.1% since this time yesterday to US$473.66 per token, reducing the ETH market capitalisation to just over US$47.7 billion.

The Ripple (XRP) price has dropped 1.3% over the period to 47.8 U.S. cents, leaving the popular alt coin with a market capitalisation of US$18.8 billion.

The Bitcoin Cash (BCH) price has fallen 0.3% over the last 24 hours to US$825.54 per token. This leaves the Bitcoin spin off with a market capitalisation of US$14.2 billion.

The EOS (EOS) price has tumbled 1.7% since this time yesterday to US$8.44, leaving the alt coin with a reduced market capitalisation of just under US$7.6 billion.

Outside the top five things were similarly mixed. The Stellar (XLM) price performance was the highlight with a 6.1% gain to 30.7 U.S. cents. Traders have been fighting to get hold of XLM after it was named as one of five coins that could be added to the CoinBase trading platform.

This gain means that Stellar has overtaken Litecoin (LTC) as the sixth largest coin in the world. The Litecoin price rose 0.3% over the last 24 hours.

Cardano (ADA), which has also been touted as a new addition to the CoinBase platform, rose 2% over the period to 18.4 U.S. cents.

Whereas IOTA (MIOTA) fell 3.2% to US$1.05 and Tether (USDT) dropped 0.2% to 99.9 U.S. cents.

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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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