It has been a positive 24 hours of trade for the crypto market and small gains are being seen across the board.
This has taken the value of the entire market up by almost 0.7% to US$218.7 billion according to Coin Market Cap.
Prices have risen despite potentially negative news out of China revealing that search engine giant Baidu has followed in the footsteps of WeChat owner Tencent and e-commerce giant Alibaba by imposing anti-cryptocurrency measures.
According to the South China Monring Post, Baidu, the operator of China’s dominant internet search engine, has closed some of its most popular cryptocurrency-related chat rooms, known as Post Bar services. These include the popular “Digital Currency Bar” and “Virtual Currency Bar.”
This follows WeChat announcing last week that it has blocked access to a number of high-profile cryptocurrency and blockchain related accounts for its 1 billion users. In addition to this, both WeChat and Alibaba’s Alipay will monitor their platforms for cryptocurrency-related transactions.
Here is the state of play on Tuesday morning:
The Bitcoin (BTC) price is up 0.4% during the last 24 hours to US$6,746.46 per coin, increasing the world’s largest cryptocurrency’s market capitalisation to US$116.3 billion.
The Ethereum (ETH) price has climbed 1% higher since this time yesterday to US$277.82 per token, lifting the ETH market capitalisation to just over US$28.2 billion.
The Ripple (XRP) price has risen 1.6% over the period to 32.9 U.S. cents, giving XRP an improved market capitalisation of just over US$13 billion.
The Bitcoin Cash (BCH) price has pushed 1.5% higher over the last 24 hours to US$529.61. This means the Bitcoin offshoot now has a market capitalisation of just under US$9.2 billion.
The EOS (EOS) price has zoomed 4.7% higher since this time yesterday to US$5.18, increasing its market capitalisation to just under US$4.7 billion.
Outside the top five things were just as positive. Stellar (XLM) climbed 1.9%, Litecoin (LTC) rose 1.1%, Cardano (ADA) jumped almost 4.8%, and IOTA (MIOTA) surged 8.6% higher. U.S. dollar-pegged Tether (USDT) was the only coin in the top ten in the red, falling 0.3% over the last 24 hours.
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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.