Bitcoin, Ethereum, and Ripple drop lower, but Stellar rockets on Coinbase hopes

It has been a reasonably disappointing weekend of trade for the crypto market with declines being seen across the board.

This has reduced the value of the entire market by around 1.8% to US$211.8 billion according to Coin Market Cap.

What happened?

With little by way of news to guide prices, traders have been relying on technical analysis over the past few days. And with many coins trading close to resistance levels, prices have been coming under pressure as sellers outweigh the buyers.

While that was the case for Bitcoin and Ethereum, the same cannot be said for Stellar and Cardano.

These two alt coins have defied the market declines and have been storming higher over the last few days.

In fact, Stellar has risen so much it has now jumped into the top five largest coins at the expense of EOS. It has risen over 26% since this time last month after being touted as a possible new addition to the popular Coinbase exchange along with Cardano.

Traders appear to be betting that being added to the Coinbase exchange will lead to greater demand and drive prices higher.

For now, though, here is how Stellar and the rest of the group are performing compared to 24 hours ago:

The Bitcoin (BTC) price has fallen 0.6% to US$6,381.83 per coin. This decline leaves the world’s largest cryptocurrency with a market capitalisation of US$110.9 billion.

The Ethereum (ETH) price has dropped 1.1% to US$210.70 per token, reducing Ethereum’s market capitalisation to US$21.7 billion.

The Ripple (XRP) price is down 1.2% to 50.35 U.S. cents. This latest decline has reduced the XRP market capitalisation to US$20.25 billion.

The Bitcoin Cash (BCH) price has plunged 4.9% to US$530.12 per token. This has left the Bitcoin offshoot with a market capitalisation of US$9.25 billion ahead of its hard fork.

The Stellar (XLM) price has jumped into the top five with a 5.3% gain to 27.21 U.S. cents per token. This has lifted XLM’s market capitalisation to US$5.15 billion.

Outside the top five things were very similar. The EOS (EOS) price is down 1.95%, Litecoin. (LTC) is off 2.7%, Monero (XMR) has fallen 2%, and Tether (USDT) is down 0.2%. Cardano (ADA) was the exception with a 0.9% gain.

While things look good for Stellar right now, I still expect this star to outperform over the long-term.

Japanese Billionaire’s Prediction Will Give You Goosebumps

When a veritable investing and entrepreneurial genius speaks, it pays to listen.

In fact, he's now preparing a $100B "war chest" to invest entirely in this "terrifying" new technology, which could spell huge profits for investors.

Click here to learn about this technology and how you can profit!

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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!