The crypto market has continued its positive run and strong gains are being seen across the board this morning.
In fact, only two coins in the top fifty are in negative territory compared to this time yesterday as traders pile back into the market en masse.
Surprisingly, the bullish sentiment has persisted despite the U.S. Securities and Exchange Commission delaying a decision on the listing and trading of a Bitcoin exchange-traded fund.
The U.S. SEC has requested further comments relating to the ETF backed by investment firm VanEck and financial services company SolidX. It appears as though traders may be optimistic that a delay and not an outright rejection could be a positive sign for this prospective ETF.
The bullish sentiment has led to the entire value of the market rising almost 11% over the period to $225.45 billion. Here is the state of play on Saturday morning compared to 24 hours ago:
The Bitcoin (BTC) price is up 4.4% to US$6,726.41, lifting the crypto giant’s market capitalisation to US$116.2 billion.
The Ethereum (ETH) price has rocketed 15% to US$244.51, increasing its market capitalisation to US$25 billion.
The Ripple (XRP) price has continued its stunning form and is up a further 30.3% to 56 U.S. cents. This latest gain has lifted its market capitalisation to US$22.3 billion. At one stage yesterday XRP overtook Ethereum to become the second-largest cryptocurrency by market cap.
The Bitcoin Cash (BCH) price has risen 14% to US$495.76 per coin, lifting its market capitalisation to US$8.6 billion.
The EOS (EOS) price has jumped 12% to US$6.05, increasing the EOS market capitalisation to US$5.5 billion.
The strong gains continued outside the top five with Stellar (XLM) up 12.8%, Litecoin (LTC) up 10.2%, Cardano (ADA) up 14.2%, and Monero (XMR) up 9.4%.
Tether (USDT) was the only coin in the top ten in negative territory during the period. It was down 0.75% over the 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.