Milestone zone! Digital currency market has made significant gains this week, with the entire market capitalization of more than 8,500 cryptocurrencies in existence jumping a few percentage points.
As a result, the overall crypto valuation is steadily approaching the $2 trillion handle.
While Bitcoin may have spiked a touch over 1.5%, a few other coins have made much larger gains. Leading the charge is Ether that has jumped by around 16% this week, with the world’s second largest cryptocurrency now trading at $2,132.
Visa testing out crypto settlements on the Ethereum network played its part.
Another big mover is XRP, which spiked by 37.4% during the last day alone. While developer Ripple may be under the radar due to a looming SEC case, its token has been doing extremely well for investors as it has gained 68% during the last month.
XRP is currently exchanging hands at the $0.98 per unit mark.
Bitcoin Cash also shined on Monday, as well as jumping 12% against the US dollar today, and 9.3% against BTC. Bitcoin Cash is trading for $626, with prices up by 17.56% during the last week.
Things are a bit complicated for the big daddy, Bitcoin.
The leading cryptocurrency in terms of market valuation, BTC is currently down by about a percentage point for the day, trading at $58,274.
All in all, combined, the cryptocurrency economy is nearing another landmark, merely a couple of months after it first topped the $1.5 trillion milestone. And interestingly, the market this time around is visibly different than what it was back in February.
The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Crypteligence.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
