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Crypto update: Bitcoin and Litecoin higher, Ripple, Bitcoin Cash, EOS, and Cardano sink

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It was a reasonably mixed 24 hours of trade for the cryptocurrency market on Monday.

This led to the entire value of the market edging slightly lower to US$408.6 billion according to Coin Market Cap.

Here is the state of play on Tuesday morning:

The Bitcoin (BTC) price is up 1% over the last 24 hours to US$8,775.94 per coin, lifting its market capitalisation to US$149.5 billion. The annual Consensus New York conference is underway at the moment and traditionally has a positive impact on the Bitcoin price.

The Ethereum (ETH) price hasn’t moved since this time yesterday and remains flat at US$734.81. Ethereum has a market capitalisation of just under US$73.1 billion. Futures exchange CME launched indexes for Ethereum overnight, which many are interpreting as a sign that Ethereum futures could be on the horizon.

The Ripple (XRP) price is down 0.5% over the last 24 hours to 74.4 U.S. cents, reducing its market capitalisation to just over US$29.1 billion.

The Bitcoin Cash (BCH) price has tumbled 1.5% since this time yesterday to US$1,465.31 per token, leaving it with a market capitalisation of US$25.1 billion. The Bitcoin Cash price has weakened ahead of its highly anticipated Bitcoin ABC upgrade later today. That upgrade will increase the coin’s block size fourfold to 32MB, allowing it to handle more transactions than many of its peers. Experts believe this could lead to increased adoption in the real world.

The EOS (EOS) price is down almost 5% over the last 24 hours to US$14.29, reducing its market capitalisation to US$12.2 billion. On Monday Commonwealth Bank of Australia (ASX: CBA) CFO Rob Jesudason quit after less than a year at the bank to become chief operating officer and group president of the company behind the EOS cryptocurrency, Block.one.

Outside the top five it was a similar story with Litecoin (LTC) pushing 3.5% higher over the period, but Cardano (ADA), Stellar (XLM), IOTA (MIOTA), TRON (TRX) all sinking lower.


Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.



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