Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, and Stellar have had a strong start to the week

The prices of Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, and Cardano have had a strong start to the week…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The crypto market has had a positive start to the week with gains being seen across the board on Monday afternoon.

This has led to the entire value of the market rising US$8 billion or 2.9% since this morning to US$289.9 billion according to Coin Market Cap.

Here is the state of play this afternoon:

The Bitcoin (BTC) price has risen 3.3% since this time yesterday to US$7,650.96. Bitcoin has been on a strong run since this time last week due to speculation that ETF giant BlackRock could be on the verge of launching a Bitcoin or crypto themed product.

The Ethereum (ETH) price has climbed 1.2% over the last 24 hours to US$468.23. Ethereum has been reasonably quiet of late and has generally risen or fallen with the market.

The Ripple (XRP) price has pushed 2.1% higher during the period to 46.2 U.S. cents. Traders have continued to buy XRP despite it being overlooked by the CoinBase exchange once again.

The Bitcoin Cash (BCH) price has surged 4.4% higher over the last 24 hours to US$822.61 per token. This latest gain means Bitcoin Cash has added US$100 or 13.8% to its price in the space of a week.

The EOS (EOS) price is up 3.3% since this time yesterday to US$8.33. Traders appear be bullish on the alt coin again after a few issues caused by its move to its Mainnet.

Outside the top five there have been gains for Stellar (XLM), Litecoin (LTC), Cardano (ADA), and IOTA (MIOTA).

Cardano (ADA) has been the star performer with a 6.5% gain to 17.75 U.S. cents, meaning its price has risen a massive 24.5% since this time last week.

Traders have been fighting to get hold of Cardano and Stellar after they were named as two potential new additions to the CoinBase platform.

Tether (USDT) is the only coin in the top ten in the red, but it moves with the U.S. dollar and not the rest of the market.

What's next?

Things certainly are looking positive for the crypto market at present, especially after it recovered strongly from a profit taking selloff on Friday.

If sentiment remains strong then I believe there's a good chance that the market will move higher over the coming days. However, let's not forget that sentiment can shift very quickly in the crypto market.

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.

More on Cryptocurrencies

A man holding a mobile phone walks past some buildings
Cryptocurrencies

The Betashares Crypto Innovators ETF (CRYP) is up 37% in a month. Is it too late to buy?

Looking at the CRYP ETF? Here's my take on whether it's too late to buy.

Read more »

Bitcoin ETF digital illustration.
ETFs

Why is the BetaShares Crypto Innovators ETF (CRYP) surging on Thursday?

Some massive Bitcoin news is lifting this ETF today.

Read more »

A woman holds a bitcoin token in her hand as she smiles at the camera in the background.
Cryptocurrencies

Bitcoin ETF approved. When is it coming to Australia?

Crypto bulls will be celebrating this milestone moment.

Read more »

person dancing in bitcoin spectacles wearing a gold outfit with hands up.
Cryptocurrencies

Bitcoin price rockets to 21-month highs. Here's why

The Bitcoin price is now up more than 174% in 12 months.

Read more »

BTC spelt out on wooden blocks with a red sign going down.
Cryptocurrencies

Bitcoin price sinks from 21-month high as ETF rumours swirl

What's going on with this cryptocurrency this week?

Read more »

person dancing in bitcoin spectacles wearing a gold outfit with hands up.
Cryptocurrencies

Up 145% in a year, the Bitcoin price just smashed through 18-month highs!

After a horror year in 2022, the Bitcoin price has come roaring back in 2023.

Read more »

Two investors look at a graphic showing a bitcoin in the centre
Cryptocurrencies

Why did the Bitcoin price just hit a 17-month high?

The long-standing cryptocurrency is finding its feet to reclaim a price not seen since May 2022.

Read more »

ETF written in gold with dollar signs on coin.
ETFs

This ASX ETF is up 21% in April so far

How on earth has this ETF smashed the market by a factor of 10?

Read more »