The volatile nature of the cryptocurrency market is currently in full swing because the top cryptocurrencies by market cap are showing significant price increments. They may have begun the day by retracing towards their support level, but as usual, it only took the advent of time to see where they are headed.
Bitcoin Trades Near $8,000 Again
Today, June 10, 2019, Bitcoin opened around $7,600 with a market capitalization of $136 billion according to ZyCrypto’s Price Index. However, as of 19:44 UTC +01:00, the virtual asset is trading at $7,960 and has a market value of about $141 billion. The latter is a 3.05 percent price increment within the past 24 hours and it shows an unexpected U-turn after a gloomy day. Will the surge be maintained till the end of the day? No one can say of a certainty.
Now, not only has Bitcoin surged, but the entire cryptomarket has also experienced slight gains. Noticeable among them are Ethereum, XRP, Litecoin, Bitcoin cash, EOS, Cardano, NEO, and Tezos which have surged by 4.84%, 3.04%, 10.77%, 3.40%, 4.08%, 5.80%, 6.69%, and 6.30% respectively. These are some of the top cryptocurrencies by market cap who have garnered the most gains after Bitcoin’s price movement.
Ethereum’s Price and Market Cap Increment
Ethereum, for instance, the second largest crypto asset by market cap opened at $230 today with a market cap of $24 billion. Its price is currently sitting at $245.30 and market value around $26 billion. There has been more activity today since its 24-hour trading volume of $7 billion has moved to $8 billion.
Similarly, Ripple’s XRP which has also incremented is yet to go over $0.40, a price level it was able to maintain for the past few days. As was evident in the past few months, its rise is a slow and steady one even though there are expectations that it is warming up for something better in the near future.
Litecoin Amasses More Gains Out of Top 10 Crypto Assets
Among the top 10 crypto assets based on market cap, Litecoin (LTC) seems to have amassed more gains at a huge 10 percent within a matter of minutes. According to CoinMarketCap, Litecoin was trading at $116 at 12:24 UTC +1:00, however, at 13:09 UTC +01:00, it surged to $125. At the moment, LTC’s price is $127, which is remarkable.
While this is ongoing, it may interest you to know that altcoins like Nebulas (NAS), Maximine Coin (MXM), and Aurora (AOA) have surged by 42%, 30%, and 60% respectively. Whether it is due to market manipulation or sudden interest in them, it is a wakeup call the crypto market was in dire need of.