The cryptocurrency markets posted strong gains over the weekend and in the earlier part of the week with the total market cap now approaching the $300 billion mark. Bitcoin was significantly higher over the weekend period, reaching the $6,600 mark on Monday – a rise of almost 6%.
Other leading cryptocurrencies also experienced strong gains. Ripple was up by well over 10% to retain the psychologically significant $0.50 level while LTC also sailed past the $80 level and was trading at well over the $87 mark on Tuesday morning at press time. ETH also showed a considerable increase to trade at around $480 at press time which represents an 8% increase and a push for the $500 level would not be untoward at this stage since there seems to be positive market sentiment overall.
Bitcoin Cash posted strong gains with an 11% rise to sail over the $800 mark and reached the $810 mark at press time on Tuesday morning. BCH is showing extremely strong momentum of late and stands out in the cryptocurrency markets with a rise of well over 20% over the past 48 hours. These gains are encouraging after the sheer drop that it experienced in the few days prior.
EOS also seemingly recovered from its recent slump and was up by almost 15% over a 24 hour period to trade at well over the $9 mark with the latest figures up around the $9.20 level. However, the most spectacular increase so far with regards to Top 10 cryptocurrencies was NEO, which registered an impressive 20% increase over the past 24 hours to trade at just over the $38 mark – although it is still way off its 2018 high of $190 achieved in January.
Stellar Lumens also had an excellent increase to around $0.22 after having retaken the psychologically significant $0.20 level on Sunday. Cardano also showed a considerable increase and was up by around 11% on Tuesday morning to flirt with the $0.16 level. This means that ADA has risen by around 35% in 72 hours – an impressive achievement. Other currencies with a smaller market cap such as Dash, Ethereum Classic, and IOTA also posted strong gains with most ranging from the 7-12% levels.
Jay is pretty interested in the crypto space. He’s written for several publications on the topic and has lots of ideas on how the world can be made a better place with blockchain technology. He’s also a fintech journalist with some years of experience and enjoys writing about new startups, ICO’s as well as any other intriguing news that catches his fancy.