The world’s most popular crypto coin rallied from an intraday low of around $8,200 up to its current trading price near $8,600, showing impressive gains of over 5% in the past 24 hours, while a vast majority of the top 100 crypto coins are pumping in sync with BTC and are recording major double-digit gains.
Wednesday, Oct. 9 – Bitcoin continues its rebound, jumping $400 in a few hours, while altcoins rally in sync with BTC.
Bitcoin seven-day price chart.
Ether (ETH), meanwhile, followed suit and rallied in sync with most of its fellow altcoins, showing a more than decent gain of nearly 7% on the day. The second-biggest cryptocurrency by market cap hit its intraday low at $179 and has since found its way to $191.58 per coin at press time. However, its price is still down 14% from the high of $222 in mid-September.
Bloomberg reported that the overall impressive price gains are partly the result of an update on the development of the next-generation Ethereum network and new financial apps at the Devcon 5 conference, currently happening in Osaka, Japan. Josh Lim, head of trading strategy at Galaxy Digital said:
“Today, and starting over the last week, we’ve seen a resurgence of interest in alt-coins. The leaders in that regard have been Ethereum and Ripple.”
Ether seven-day price chart.
Ripple’s XRP is showing positive gains of 2.68% over the past 24 hours and is trading at about $0.281 per coin at press time. Cointelegraph recently reported that the United Kingdom-based financial software firm Finastra partnered with Ripple to join RippleNet, a global blockchain payments network with over 200 members, to provide faster and cheaper cross-border payments.
XRP’s seven-day price chart.
All of the top-20 coins are showing gains today. Ethereum Classic (ETC), the number 20 coin by market capitalization, is up 11.33% on the day, while Chainlink (LINK) takes the title of the biggest gainer among the top cryptos at press time, up nearly 14% on the day.
The overall cryptocurrency market cap increased from $222 billion to $232 billion, with Bitcoin making up 66.7% of the total.
Bitcoin Price Near $10,500 as Ether and Other Altcoins Make Gains
Saturday, Sept. 7 – Bitcoin is trading sideways after falling short of the resistance at $11,000 yesterday, while Ether (ETH) is making a slight recovery from its dip earlier this week
Bitcoin has been trading in a range around $10,400 today. Yesterday it appeared that the coin would finally cross the $11,000 mark, a price the cryptocurrency has not seen since Aug. 13, but it fell short and corrected down to $10,313. At press time the coin is trading at $10,521, up 1% on the day.
Ether is seeing more of a recovery after its price dropped by around 5% yesterday. At press time the coin is trading at $178.93, up 5.7% over the 24-hour period.
Earlier this week, Ethereum developers said on a conference call that the testnet activation of the Istanbul hard fork has been pushed back to early October. Ethereum co-founder Vitalik Buterin previously said that the blockchain is nearly full, which could deter new adoption by potential Ethereum contributors.
Ripple’s XRP token is seeing some mild gains on the day after seeing a dip on Sept. 7. The token is currently trading at $0.260, up 3.87% on the day.
XRP’s issuing firm Ripple recently fell out of the top-10 of employment-oriented service Linkedln’s “The 50 hottest U.S. companies to work for” list. Ripple moved from 7th to 28th place while cryptocurrency exchange Coinbase was downgraded to from 3rd to 29th.
Altcoins prices are rising as well
Several of the top-20 altcoins are seeing significant gains at press time, led by EOS which is trading at $3.61, up nearly 12% on the day. TRON (TRX) is up 8.53% to trade at $0.015, while Litecoin (LTC) has seen a 5.51% increase and is trading at $69.06 at press time.
Bitcoin is showing strong market dominance at over 70% while Ether and XRP follow it at 6.99% and 4.11%, respectively.
Market capitalization of all cryptocurrencies on Coin360 is over $268 billion at press time, up from $263 billion at the beginning of the day.