The Ethereum price crossed a major milestone on Tuesday, surpassing the $700 mark for the first time in more than a month.
The rally was far from an isolated occurrence, as the achieved an eight percent advance, adding nearly $33 billion to its rapidly expanding waistline. In the past week, the market has added almost $100 billion.
At present, the combined value of all cryptocurrencies is $430 billion, which puts the nascent asset class within striking distance of Facebook, who incidentally, a recent MIT Technology Review article suggested could if it made a coordinated effort.
bitcoin Price Continues Push Toward $10,000
The continued to lose market share to its peers, and the flagship cryptocurrency now accounts for just 37.1 percent of the index’s total valuation. Nevertheless, bitcoin continued to post a steady advance, rising approximately six percent to $9,367 on cryptocurrency exchange Bitfinex. bitcoin now has a $159.5 billion market cap, and many analysts that it will continue to grow throughout the year.
Ethereum Price Leaps Past $700
The , meanwhile, beat the index by nearly two percentage points en route to a 10 percent surge that carried the coin above $700 for the first time since mid-March. The Ethereum price is now trading at $704, which translates into a $69.7 billion market cap and a 16.3 percent share of the index.
EOS Price Continues to Lead Large-Cap Index as Market Swells
The bullish wave continued throughout the wider cryptocurrency markets, and the majority of top-tier altcoins outpaced bitcoin’s single-day performance.
The Ripple price swelled by seven percent, brushing off accusations from a former Commodity Futures Trading Commission (CFTC) chairman that under US law. If the rally continues much longer, Ripple will likely reach dollar parity.
Fourth-ranked bitcoin Cash matched the index with an eight percent climb, and the BCH price is currently valued at a global average of $1,488.
The EOS price, meanwhile, continued to post the large-cap tier’s most impressive single-day performance, and racing to a nearly $12 billion market cap.
The Litecoin price increased by nine percent to just under $164, while Cardano’s similar advance carried its price to $0.31.
Stellar rose by seven percent to $0.39 and now boasts a $7.4 billion market cap.
IOTA returned the top-tier’s worst performance, increasing just four percent to $2.19, while NEO rounded out the top 10 with a 10 percent rally to $83.40.
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Published at Tue, 24 Apr 2018 22:02:56 +0000
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