Market Update: Crypto Markets Show Slight Growth, BTC Rises Above $7,500, ETH above $600
Crypto markets made a mild comeback today, with Bitcoin and Ethereum breaking the $7,500 and $600 marks, respectively.
Though the market is taking time to reclaim its position after last month’s slump, the map shows that the vast majority of the coins have been closing in the green today, according to data from Coin360.
Bitcoin (BTC) broke $7,500 and is trading at $7,610.49, up 2.84 percent over a 24 hour period at press time. Earlier this week, Apple co-founder Steve Wozniak said at the Money20/20 conference in Amsterdam that “only Bitcoin is pure digital gold.” Wozniak echoed the sentiments of Twitter CEO Jack Dorsey, who believes that in the next decade, Bitcoin will become a global currency.
Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index
Ethereum (ETH) has gained 6.17 percent over the past week and 4.31 percent over the last 24 hours, placing it slightly above the $600 mark. At press time ETH is trading at $604.78
Ethereum price chart. Source: Cointelegraph Ethereum Price Index
While the top-10 altcoins have all made modest gains over the past 24 hours, EOS, Cardano (ADA), and Bitcoin Cash (BCH) are the biggest winners, up 5.03, 4.03, and 4.48 percent at press time, respectively. EOS, which completed its year-long, $4 bln token crowdsale on June 1 is now trading at $14.06.
Ripple (XRP) is trading at $0.67 at press time, having gained 3.23 percent over the last 24 hours. Ripple Labs continues to be in litigation with a former investor who, following the loss of just over $500 trading XRP tokens, alleges that the digital currency should have been registered as a security with the US Securities and Exchange Commission.
Total cryptocurrency market capitalization is currently at $344 bln, up from its intra-weekly low of $318 bln.
Total market capitalization chart. Source: CoinMarketCap