The markets seem to be green again though it’s hard to tell if it’s the long-lasting recovery investors are waiting for or it’s yet another milestone towards recovery given the huge market cap gains of $100 B made over the past 24 hours. Nevertheless, this week has gone by with very limited FUD in comparison to previous weeks which can, of course, can be said to be one of the reasons behind the green charts we are seeing. Here is our most recent cryptocurrency market update;
Current cryptocurrency market update
Bitcoin: Bitcoin still occupies the biggest portion of the market in comparison to all cryptos with a 35% market share. In the last 24 hours, it has accumulated a 25% increase in price and has retained more than $2,000 from its lows of yesterday. As of writing time, Bitcoin stands at $8,179 per bitcoin and has an hourly growth of $3.05
Ethereum: Ethereum still stands as the second largest cryptocurrency with a market cap of $80 B and a 32% increase in price over the last 24 hours. It is also about $700 from retaining its all-time highs of January of this year. As of writing time, Ethereum is currently increasing at an hourly growth rate of 3%.
Ripple: Ripple has experienced one of the greatest losses since the recent price corrections hit cryptocurrencies in January of this year. Ripple has seen more than 60% of its value wiped out in the space of one month. This can be attributed to rumours that circulated in line with major partnerships that never came to reality. It has however recovered by 22% from the dip of yesterday and is also proving bullish as it struggles to attain its prior correction prices with a current market share of 8%.
Bitcoin Cash: Bitcoin cash currently occupies a market share of almost 4.40% as of writing time and its price is currently growing at an hourly rate of 3.20%. It has however managed to secure over 21% from yesterdays dips and as it struggles to fully recover, its investors are keen on seeing it replace Bitcoin.
Litecoin: Litecoin after experiencing stagnant growth over the past few months is currently on track to be one of the best performing altcoins in the top 10 categories based on coin market cap. After regaining more than 33% from yesterday’s dip, only NEM and NEO seem to be recovering faster than Litecoin. It currently has a price of $154 per coin and is on track to overtaking ADA to become the 5th largest coin in terms of market capitalization. It also announced yesterday that it will be partnering with Aliant payment to offer Litecoin payment solutions to merchants.
Nonetheless, the meeting held yesterday by the US Senate has without a doubt brought some more certainty in the market given the increasing negativity and FUD from some international regulatory bodies and institutions. This can also be said to have played a major effect in this market recovery of over $100 Billion.
What are your thoughts on the current cryptocurrency market update and state? Do you think we can be able to see Bitcoin break through $10,000 by the end of the week?
Let us know what you think in the comment section.