Crypto Currencies Trade Sideways
Thursday was a relatively quiet day for the crypto currency with most of the top ones tarding sideways although their were two notable exceptions. Ethereum spent most of the day sitting quietly in the $890-950 mark but a late surge finally pushed the price over $1,000 to another record high. After the senastional gains of the apst 48 hours where boosts in excess of 140% were registered, Ripple climbed down slightly from its all time high of $3.50 to settle at $2.70 at one point. However on early Friday morning the innovative crypto currency regained the $3 dollar mark and was moving ahead slowly to the $3.15-3.20 level.
After weeks of torrid declines, Litecoin seems to be well on the road to recovery and was posting impressive gains of around 7% at press time. This could mean that LTC can eventually regain the $300 level seen not so long ago although it is still far off from that price. Ethereum Classic also saw an impressive rally yesterday where the price shot up by 10% at one point and the currency is now trading well into the mid $30's.
Bitcoin had a mixed day registering an initial decrease of around 5% when it traded at well below the $15,000 mark for most of Thursday. The price picked up again superseding the $15,200 barrier late Thursday and early Friday morning seemingly settling there for the time being.
The alt coin market rose to an all time high of $250 billion with some currencies posting impressive advances. Cardano rose by an impressive 27 per cent whilst NEM and Stellar Lumens shot up by 52 and 13% respectively. IOTA was down but the new entry into the top 10 crypto currencies by market cap was TRON which saw a massive 107% increase and putting its total market cap at over $10.4 billion meaning that it took over Dash's position in the top 10 chart. Bitcoin Cash was another disappointment throughout the day as it declined by a whopping 13% to around $2,400 and further drops were experienced on Friday morning.
Ethereum Price goes over $1,000 While Ripple Adds 33 Percent
The price of ethereum made an impressive advance on Thursday, but ripple continued to consolidate its position as the second-largest cryptocurrency. In a seperate story, the founders and CEO of Ripple are now counted as amongst the richest people in the world with fortunes exceeding $44 billion Ethereum, long the second-most valuable cryptocurrency but recently forced into third, rose by 11 percent, bringing the ethereum price to a present value of $937 on Bitfinex. Thanks to Korean premiums, the global ethereum price rose to an all-time high of $1,045 as ETH briefly became the third cryptocurrency to achieve a market cap of $100 billion. At the moment the currency is trading about the $950 mark.