Australia Markets closed

Crypto update: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, and Litecoin zoom higher

James Mickleboro

Much to the relief of traders, it was a positive weekend of trade for the crypto market with solid gains being made across the board. In fact, only one coin in the top 50 has failed to push higher over the last 24 hours.

These gains have led to the value of the entire market increasing to $218.2 billion according Coin Market Cap.

This means it has risen almost 3.3% over the last 24 hours or an impressive 7% since this time on Friday.

While the Bitcoin (BTC) price has been a strong performer during this time, the biggest contributor to the market’s gain has been a recovery in alt coin prices. The bulls appear to have returned after technical analysis showed that cryptocurrencies had been oversold.

Here is the state of play on Monday:

The Bitcoin price has climbed 2% over the last 24 hours to US$6,538.92 a coin, lifting its market capitalisation to US$112.6 billion.

The Ethereum (ETH) price has pushed 3% higher since this time yesterday to US$302.84 per token. This latest gain increases ETH’s market capitalisation to US$30.7 billion.

The Ripple (XRP) price has continued its strong run and is up a further 6.7% over the period to 34.8 U.S. cents. The XRP market capitalisation has now climbed to US$13.7 billion.

The Bitcoin Cash (BCH) price is up 2.5% since this time yesterday to US$569.23 per token. This gain has lifted the Bitcoin spin off’s market capitalisation to over US$9.8 billion.

The EOS (EOS) price has surged 4.6% higher over the last 24 hours to US$5.30, increasing its market capitalisation to US$4.8 billion.

Outside the top five things were equally positive over the period. The Stellar (XLM) price has risen 0.1%, Litecoin (LTC) is up 2.8%, Tether (USDT) has edged higher, Cardano (ADA) has pushed 3.2% higher, and Monero (XMR) has risen 1.7%.

More reading

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.