Bitcoin Breaks $9,300 as US Stock Market Sees Minor Uptrend
Most of the top 20 cryptocurrencies are reporting moderate losses on the day as bitcoin breaks $9,300.
Market visualization courtesy of Coin360
Bitcoin 7-day price chart. Source: Coin360
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just under $28.5 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $18 billion at press time.
Coin360 data shows that ETH has seen its value increase by a fraction of a percent over the last 24 hours. At press time, ETH is trading around $268. On the week, the coin has also gained over 2.2% of value.
Ether 7-day price chart. Source: Coin360
XRP is down by about three quarters of a percent over the last 24 hours and is currently trading at around $0.428. On the week, the coin is up about 6%.
XRP 7-day price chart. Source: Coin360
At press time, the total market capitalization of all cryptocurrencies is $288.8 billion, nearly 8.8% higher than the value it reported a week ago.
As Cointelegraph reported earlier today, Jerome Powell, the head of the United States Federal Reserve, has said that he recognizes both potential benefits and risks to Facebook’s recently-unveiled Libra cryptocurrency project.
In traditional markets, the United States stock market is seeing slight gains so far today, with the S&P 500 up 0.61% and the Nasdaq up 0.5% at press time. The CBOE Volatility Index (VIX), on the other hand, has gained 4.33% on the day at press time.
Major oil futures and indexes are seeing discreet gains today, with WTI Crude down 1.37%, Brent Crude down 1.37% and Mars US up 0.4% at press time. The OPEC Basket is up 0.82% and the Canadian Crude Index has not seen its value change in the 24 hours by press time, according to OilPrice.
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