Although the crypto market had a positive weekend, it has given back some of its solid gains during a disappointing 24 hours of trade.
Pleasingly for traders, though, the value of the entire crypto market is still 2.7% higher than it was this time on Friday at US$217.3 billion according to Coin Market Cap.
Here is the state of play on Monday morning:
The Bitcoin (BTC) price is down 0.1% over the last 24 hours to US$6,720.58 per coin. This decline leaves the world’s largest cryptocurrency with a market capitalisation of US$115.8 billion. The Bitcoin price has moved higher over the past few days despite news that the U.S. SEC rejected several crypto ETFs.
The Ethereum (ETH) price has fallen 1.8% since this time yesterday to US$275.32 per token, reducing the ETH market capitalisation to just under US$28 billion.
The Ripple (XRP) price has lost 1.2% of its value over the period, leaving XRP with a market capitalisation of almost US$12.8 billion.
The Bitcoin Cash (BCH) price has tumbled 2.9% over the last 24 hours to US$521.12. This means the Bitcoin spin off now has a market capitalisation of just over US$9 billion.
The EOS (EOS) price has fallen 1.7% since this time yesterday to US$4.95, reducing its market capitalisation to just under US$4.5 billion.
Outside the top five things were a little more positive. Although Stellar (XLM) fell 0.2%, Litecoin (LTC) dropped 0.6%, and Cardano (ADA) tumbled 2%, there were gains for Tether (USDT) and IOTA (MIOTA).
The latter coin returned to the top ten after rising a sizeable 12.7% over the last 24 hours. The successful release of the public beta version of its Trinity desktop wallet appears to have been the driver of this gain.
However, IOTA could soon be knocked out of the top ten due to the sudden rise of the Tezos (XTZ) coin. The XTZ price has rocketed 98% higher since this time yesterday and has a market capitalisation just short of IOTA’s. Traders have been fighting to get hold of the controversial coin since it was listed on the Coin One exchange in South Korea.
We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.
That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.
We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!
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.