Crypto price analysis: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON; June 6
The crypto market looks bright today as almost all coins have seen positive gains over the past 24 hours, thanks to the increase in Bitcoin (BTC) price. The overall cryptocurrency market cap has increased by $10 billion, with a 24-hour trading volume of over $15.3 billion. The gains of the top 10 cryptocurrencies by market cap vary between 2% to 6%, with EOS being the top gainer (6.32%). Let’s look into how the individual coins have performed.
Bitcoin (BTC) has enjoyed a healthy gain of 2.37% over the past 24 hours. Yesterday, at 20:40 UTC, it suddenly increased by about $120 in under 60 minutes. At the end of the day, it increased to $7,640 and has held its value since then. Currently, 1 Bitcoin (BTC) is worth $7,610 and its market cap is almost $130 billion. It is still the most traded cryptocurrency by a huge margin, with a dominance over the crypto market of 37.8%.
Ethereum investors would be elated with the way the coin has performed today. Though the first half of June 5th wasn’t something to embrace, the second half was much better, as the coin gained about 3.47%. At 20:40 UTC yesterday, Ethereum started increasing steadily and rapidly. In under 60 minutes, it increased in value by 4.2%. Post this, the coin has experienced continuous ups and downs throughout the day, which puts it at a price of $609.12, which is equivalent to 0.0797 Bitcoin (BTC). Its market cap is $60.79 billion and the 24-hour trade volume is $1.75 billion.
Today, Ripple’s performance is quite interesting. Unlike the other coins in the top 10 listing, it has seen constant increasing and decreasing in value. Despite its increase in price from $0.6529 to $0.6747, which is a 3.57% increase, its value with respect to Bitcoin (BTC) has decreased abruptly. Its current market cap is $26.47 billion and the 24-hour trade volume is $330 million.
Bitcoin cash (BCH)
Bitcoin cash (BCH) has a performance similar to that of Bitcoin. At 20:40 UTC yesterday, it experienced a huge upsurge, increasing by about $70 in just under 1 hour. Following that, it had a few variations, despite which it managed to hold constant value. After the sudden upsurge, its value with respect to Bitcoin has relatively reduced. At the time of writing, 1 Bitcoin cash token was worth 1,134.2 USD and 0.1488 Bitcoin (BTC). Its market cap has also found a significant hike after increasing by $1 billion.
EOS (EOS) has had a rather unstable performance throughout the day, similar to Ripple (XRP). It hasn’t had a sudden spike like most other coins have; instead, its value has been increasing and decreasing significantly. However, its value has remained almost constant for the past 14 hours, which is about $14.00. Its market cap is $12.54 billion and the trade volume is $1.2 billion. The 24-hour gain is 6.32% and the value with respect to Bitcoin (BTC) is 0.00183 BTC.
Litecoin has had a graph which looks like the twin of Bitcoin (BTC) over the past 24 hours. It has had a hike in price and has maintained its value in a similar fashion as that of Bitcoin (BTC). Its total gain over the past 24 hours is 2.83% and the current coin value is $121.01. Despite the increase in value in US Dollar, its price with respect to Bitcoin has somewhat remained stagnant, as seen from the graph. It’s market cap is 6.87 billion and coin price is 0.0159 BTC.
Cardano (ADA) has a healthy price graph, considering its stability in the crypto markets. At 19:20 UTC yesterday, it actually experienced a commendable hike in price, which was about 4.2%. However, over the past 15 hours or so, it has reduced by approx. 2%, ending up at an overall growth of 1.99%. Cardano price currently stands at $0.2142 and the market cap is $5.54 billion.
Stellar, again, has been pretty unstable in value. Despite the increase in value of almost every crypto coin at 20:40 UTC yesterday, it experienced only 1.2% hike in price during the same time. However, appreciably, it has managed to hold its value over the first half of the day, decreasing by only $0.007. Its 24-hour gain is 0.99% and the market cap is $5.40 billion.
IOTA had an impressive hike, starting 19:45 UTC yesterday. It increased steadily from a coin price of $1.68 to $1.78 in just over 4 hours. However, over the past 3 hours, it has experienced an unexpected downfall, reducing by 1.2%. Its market cap is $4.74 billion and the coin price is $1.71 (0.0002246 BTC).
TRON (TRON) is getting back to square one after a hike in price yesterday. Over the past 15 hours, it has reduced in value by 2.2% after yesterday’s hike of 2.83%. Currently, its price is $0.058 (0.00000776 BTC) and the market cap is about $3.87 billion USD.
Image via Shutterstock & Coinmarketcap
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