It has been a positive 24 hours of trade for the crypto market again and solid gains are being seen across the board. This has led to the value of the entire market rising 2.3% over the period to US$216.4 billion according to Coin Market Cap.
The market appears to have been unaffected by the rejection of several cryptocurrency ETFs by the U.S. Securities and Exchange Commission this week. This could be an indication that there was less speculative money in the market betting on an ETF approval this time around.
Here is the state of play on Saturday morning:
The Bitcoin (BTC) price has 3% higher over the last 24 hours to US$6,699.13 per coin. This has lifted the crypto giant’s market capitalisation to US$115.4 billion.
The Ethereum (ETH) price has climbed 2.3% since this time yesterday to US$282.81 per token, lifting ETH’s market capitalisation to just over US$28.7 billion.
The Ripple (XRP) price is up 0.8% over the period to 32.76 U.S. cents, giving the alt coin an improved market capitalisation of US$12.9 billion.
The Bitcoin Cash (BCH) price has climbed 1.4% over the last 24 hours to US$535.58, increasing the Bitcoin offshoot’s market capitalisation to almost US$9.3 billion.
The EOS (EOS) price has been a strong performer once again and is up 3.8% since this time yesterday to US$5.06. This has given EOS a market capitalisation of just under US$4.6 billion and means the EOS price has risen 10% in the space of two days.
The strong form was seen outside the top five as well with the likes of Stellar (XLM) climbing 4.3% to 22.44 U.S. cents, Litecoin (LTC) rising 1.7% to US$57.95, Cardano (ADA) pushing 1.8% higher to 9.4 U.S. cents, and Monero (XMR) jumping 4% to US$93.42.
The only coin in the top ten that failed to climb higher over the period was Tether (USDT), which edged slightly lower. But as Tether is pegged to the U.S. dollar it moves with the ebbs and flows of the greenback and not the rest of the crypto market.
Traders will no doubt be optimistic that the strong run continues over the weekend and into next week, but only time will tell if that happens.
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