Most of the top 100 cryptocurrencies by market cap are seeing gains today, June 18, with both (BTC) and (ETH) up about 4 percent on the day to press time, according to data from .
Market visualization from
Total market capitalization of all cryptocurrencies is around bln at press time, spiking up $13 bln in one hour and reaching levels only slightly less than its weekly high around $300 bln on June 12.
Total market cap of all cryptocurrencies from
(BTC) is trading around $6,735 at press time. The leading cryptocurrency saw a sharp spike in price today, recovering from its intraday low around $6,400.
bitcoin price chart from Cointelegraph’s
As of press time, CoinMarketCap data BTC trading volumes of $3.9 bln over the past 24 hours, down from a high over $5 bln June 13-14.
The day’s solid gains come despite a scathing 24-page article that was yesterday, June 17, by the Bank of International Settlements (BIS). The BIS – an organization made up of 60 central banks – leveled criticism at cryptocurrencies such as bitcoin that are based on consensus mechanisms and permissionless blockchains, alleging they are “not scalable” enough to function as money in a global economy.
The bank’s report suggested that due to congestion of the blockchain, “the more people use a cryptocurrency, the more cumbersome payments become,” going so far as to raise the alarm that the “communication volumes” and storage demands associated with mass crypto adoption could even “bring the Internet to a halt.”
(ETH) has seen a little over a 4 percent rise in the past 24 hours, trading around $520 at press time. As with bitcoin, Ethereum’s positive reversal began late afternoon today, after the coin lost ground below the $500 mark to trade as low as $492.
Today the leading altcoin has returned to the price point it reached June 14, following positive and highly significant from a senior (SEC) official that Ethereum will not be subject to a securities classification under U.S. law.
Ethereum price chart from Cointelegraph’s
Among the top ten coins by market capitalization, all are in the green, with (BCH) and (TRX) up the most, both up around 5 percent on the day to press time.
Anonymity-oriented altcoin (DASH), the 13th largest cryptocurrency by market cap, is one of the only top twenty coins in the red, seeing a modest 1.22 percent loss on the day and trading around at press time.
Published at Mon, 18 Jun 2018 17:41:08 +0000
