Crypto market again moved into the green on Monday. Reports say US$7 billion has flowed back into the digital currency market in the last 24-hours time frame.
Crypto Market Overview
The bounce back of the cryptocurrency market has increased the total market capitalization over US$135 billion. While Stellar (XLM), Litecoin (LTC), Cardano (ADA), and NEO (NEO) are performing extremely well, Ethereum (ETH) is looking sluggish today.
Bitcoin Price Moves above US$4,000 and Holding on to it
Bitcoin witnessed a vertical spike a few hours back. This took place as the big green candle broke through resistance, thereby moving above the US$4,000. Bitcoin price has increased by more than 6%. The best part of the vertical spike is that it has moved the Bitcoin (BTC) price above the US$4,000 level. In fact, Bitcoin price against the US Dollar has successfully held on to the gains above the psychologically strong US$4,000 level. At press time, BTC/USD is trading at US$4,106.7, a level which is comfortably above the US$4,000 level.
Ethereum (ETH) is Going Slow Today, Ripple (XRP) is Closing Gap
Ethereum price is also gaining but at a lot slower pace than that of other leading cryptocurrencies such as Stellar (XLM), Litecoin (LTC), Cardano (ADA), and NEO (NEO). Ethereum (ETH) is currently moving around US$155. Its 1-day range high is US$162.59 and low is US$153.16.
However, Ripple (XRP) is making commendable gains today. Its price is up by almost 2.5% at the time of publishing. This has made XRP close the gap with ETH, in terms of market capitalization.
While market capitalization of Ethereum (ETH) is US$16,066,258,532, the same for Ripple (XRP) is $15,016,139,277. This means the gap of the market cap between the two cryptocurrencies has narrowed down to just over US$1 billion.
Crypto Market Prices – A Quick Review
Majority of the cryptocurrencies are currently in the green. The AltDex 100 Cryptocurrency Index shows that 82% of the altcoins are gaining. In fact, ALT100 (an index of top 100 cryptocurrencies) is up by 3.16%.
The biggest gainers today are:
- DEX – Increasing by over 42%
- HOT – Increasing by over 14%
- BTS – Increasing by over 14%
- NEO – Increasing by around 10%
- WTC – Increasing by around 10%
In the top-10 crypto market, the biggest gainers currently are XLM (over 7%), BTC (over 4%), and Cardano (around 2%).
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