29.03.2024

Bitcoin Price Breaches $7,400 Mark as Most Top-20 Coins See Gains

Bitcoin price is currently up by 3.36% on the day, trading at around $7,422 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 4.1%.

Bitcoin 7-day price chart. Source: Coin360

Bitcoin 7-day price chart

Sunday, Dec. 22 – most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as Bitcoin is breached the $7,400 mark again. Tezos (XTZ) is the only cryptocurrency among the top-20 that is seeing losses.

As Cointelegraph reported earlier today, multiple analysts suggest that Bitcoin is headed for a big dip before the next bull market.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $14.4 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $8.5 billion at press time.

Coin360.com data shows that ETH has seen its value increase by about 3.48% over the last 24 hours. At press time, ETH is trading around $132. On the week, the coin has also lost about 7.04% of its value.

Ether 7-day price chart. Source: Coin360

Ether 7-day price chart
XRP is up by about 2.37% over the last 24 hours and is currently trading at around $0.195. On the week, the coin is down about 10.55%.

XRP 7-day price chart. Source: Coin360

XRP 7-day price chart. 

Among the top 20 cryptocurrencies, the only one reporting double-digit gains is Tron (TRX), which as of press time is up by 10.79%. Also Litecoin (LTC), is seeing better-than-average performance, with 5.45% of gains registered over the last 24 hours. Tezos, on the other hand, is the only cryptocurrency of the group that is seeing losses and has seen its value decreased by up to 1.67%.

At press time, the total market capitalization of all cryptocurrencies is $195.6 billion, about 0.62% higher than the value it reported a week ago.

Bitcoin News Summary – December 9, 2019

Ethereum successfully upgraded to its latest version, dubbed “Istanbul” over the weekend. The update contains numerous improvements that address Ethereum’s security against DDoS and spam attacks, gas usage costs, and smart contract flexibility. Istanbul also makes Ethereum interoperable with Zcash. While the fork was highly anticipated, the effect on the price of ETH has thus far proven mild.

$8.9 billion was moved over Bitcoin’s blockchain within the span of one hour, setting a new hourly record in terms of value transferred. The amount was moved by the Bittrex exchange between its cold wallets and consisted of 21 transactions of roughly 56,000 BTC each. The total fees were less than $15.

Privacy-oriented blockchain web browser Brave has seen the number of its monthly active users almost double from 5 to 10 million in one year. At the same time, the firm announced that the number of Brave’s daily active users has tripled over the past year to reach 3.3 million.  The Brave browser combines privacy with a blockchain-based digital advertising platform, offers 3 to 6 times faster browsing than other browsers while giving the masses absolute control over online activities.

The South African Reserve Bank announced plans to implement new rules for crypto to prevent the evasion of capital controls. The new rules are expected in the first quarter of 2020. Crypto demand and search interest are persistently high in South Africa, due to tight capital controls and a slowing economy.

Before we conclude, this week’s “Bitcoin quick question”: Can Bitcoin survive without the Internet?

Well, Bitcoin isn’t completely dependent on the Internet. Alternative methods for transferring transaction information such as radio waves, cellular networks or even innovative methods like Tx-tenna have been successfully used to broadcast Bitcoin transactions. Additionally, The Blockstream Satellite network broadcasts the Bitcoin blockchain around the world 24/7 for free, protecting against network interruptions. If you want to read more about this topic just visit this page.

Leave a Reply

Your email address will not be published. Required fields are marked *