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Crypto update: Bitcoin rises but Ethereum, Ripple, EOS, and Litecoin hit on hacking news

James Mickleboro
Bitcoin down arrow

It has been a reasonably disappointing 24 hours of trade for the cryptocurrency market.

With declines being seen across the board, the entre value of the market has slipped 0.5% to US$289 billion according to Coin Market Cap. Things were much worse earlier on, though, so this is actually a bit of a positive outcome.

Also read: Why the Aussie is getting trashed 

News that the world’s sixth-largest crypto exchange was hacked appears to be behind the declines. According to CNBC, South Korea’s Bithumb exchange was compromised and hackers stole around US$30 million.

Here is the state of play on Thursday morning:

The Bitcoin (BTC) price is one of only two coins within the top ten posting a gain over the last 24 hours. It has risen 0.2% during this time to US$6,764.98 per coin, lifting its market capitalisation slightly to US$115.7 billion.

The Ethereum (ETH) price has fallen 0.2% since this time yesterday to US$534.14, reducing its market capitalisation to US$53.5 billion.

Also read: Aussie share market rises to a 10-year high

The Ripple (XRP) price is down 1.2% during the period to 53.9 U.S. cents. This leaves the alt coin with a market capitalisation of just under US$21.2 billion.

The BitcoinCash (BCH) price is off 1.2% over the last 24 hours to US$885.87 per token. The Bitcoin spin off’s latest decline means its market capitalisation has fallen to US$15.2 billion.

The EOS (EOS) price has been the worst performer amongst the major coins since this time yesterday with a 1.5% decline to US$10.47. This decline reduces the EOS market capitalisation to just under US$9.4 billion.

It was a similar story outside the top five with only TRON (TRX) posting a gain. It was up a further 1.6% over the period to 49.36 U.S. cents. Traders have continued to fight to get hold of the cryptocurrency after its founder purchased BitTorrent for US$140 million. BitTorrent is the company behind the popular file-sharing client uTorrent.

Elsewhere, Litecoin (LTC) is down 1.2%, Stellar (XLM) has dropped 1.1%, Cardano (ADA) is down 1.6%, and IOTA (MIOTA) is lower by over 1.3%.

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.