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Crypto update: Bitcoin zooms higher, but Ethereum, Ripple, Bitcoin Cash, EOS, and Stellar sink lower

The crypto market had a strong start to the week on Monday before alt coins faded during overnight trade.

Despite the smaller coins weighing on proceedings, the market has managed to push higher over the last 24 hours.

At the time of writing the entire value of the market is up 1.2% during the period to US$284.2 billion according to Coin Market Cap.

Here is the state of play on Tuesday morning:

The Bitcoin (BTC) price has been the only coin in the top ten to push higher over the last 24 hours. The crypto giant has risen 3.5% to US$7,729.71 per coin, increasing its market capitalisation to US$132.7 billion. Continued speculation relating to the potential launch of a Bitcoin ETF from BlackRock has been the catalyst for this gain. It now has the US$8,000 mark in its sights and experts have tipped it to break through this level this week, according to CNBC.

The Ethereum (ETH) price has fallen 2.5% since this time yesterday to US$450.83 per token, reducing Ethereum’s market capitalisation to US$45.5 billion.

The Ripple (XRP) price has dropped 2.1% over the last 24 hours to 44.6 U.S. cents. This leaves the fledgling alt coin with a market capitalisation of just over US$17.5 billion.

The Bitcoin Cash (BCH) price is down 1.3% since this time yesterday to US$792.81 per token. This decline means that the Bitcoin spin-off’s market capitalisation has dropped to just under US$13.7 billion.

The EOS (EOS) price has dropped 1.5% over the last 24 hours to US$7.90, reducing its market capitalisation to just under US$7.1 billion.

Outside the top five it was a similar story over the period. The Stellar (XLM) price has fallen 0.9%, the Litecoin (LTC) price dropped 1.2%, Cardano (ADA) is off 3.5%, IOTA (MIOTA) has fallen 3.1%, and the Tether (USDT) price has edged 0.15% lower.

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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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