Crypto update: Bitcoin, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, and Cardano push higher

The prices of Bitcoin, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, and Cardano have pushed higher. Ethereum, Tether, and IOTA have sunk into the red…

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

After a disappointing couple of days of trade the crypto market has rebounded over the last 24 hours and gains are being seen largely across the board.

This has lifted the entire value of the crypto market by 1.4% to US$224.7 billion according to Coin Market Cap.

Here is the state of play on Saturday morning:

The Bitcoin (BTC) price has climbed 1.2% over the last 24 hours to US$7,028.43. This gives the world's largest cryptocurrency a market capitalisation of US$121.2 billion. Bitcoin lost approximately 10% of its value in the month of August. Traders will be hoping that September is a better month for the crypto giant.

The Ethereum (ETH) price has lost 0.5% of its value since this time yesterday and is down to US$282.61. Ethereum's market capitalisation has dropped to US$28.7 billion as a result of this latest decline. There doesn't appear to be an obvious reason why it has underperformed the rest of the market today.

The Ripple (XRP) price has risen 0.2% over the period to 33.51 U.S. cents. This has lifted the alt coin's market capitalisation to US$13.3 billion.

The Bitcoin Cash (BCH) price has pushed 0.4% higher over the last 24 hours to US$540.42. This gives the Bitcoin spin off a market capitalisation of just under US$9.4 billion.

The EOS (EOS) price has been a strong performer and is up a sizeable 6% since this time yesterday to US$6.40. This has improved the EOS market capitalisation to US$5.8 billion.

Outside the top five there were gains for Stellar (XLM), Litecoin (LTC), and Cardano (ADA). Stellar rose 0.5%, Litecoin climbed 2.5%, and Cardano pushed 1.3% higher. The US dollar pegged Tether (USDT) fell slightly and IOTA (MIOTA) dropped 0.2%.

What's next?

I feel that things look a bit mixed for the crypto market right now and prices could go either way. Because of this I intend to keep my powder dry and watch on from the safety of the sidelines.

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 »