The most popular virtual coins, Bitcoin and Ether, are positioned to join the recent steady cryptocurrency rally. Below is a breakdown as at press time.
Ether Moves Above The $700 Mark
Tuesday evening, the price of ether managed to achieve a significant milestone in trades as it toppled the $700 level. The last time it met this was in mid-March. Ether, the second most valuable electronic currency managed to add a $33 billion market capitalisation to its value, taking it very near the $70 billion mark thanks to the late evening rally.
Although Bitcoin (the most renowned virtual currency), continues to lose market shares to its competitors, it keeps advancing further when it comes to valuation. It managed to move more than 6% this Tuesday as it sustained its push near the $10,000 level. Market experts believe that this bullish run is sustainable in the short term. Many proponents will keep seeing stellar returns in the new future.
In the last five days, Bitcoin and Ether the leading virtual coins have seen their valuations spike in the range of 16% to 20%.
Altcoins Rally Big Profit
Altcoins rally was an excellent gift for the virtual currency, as all significant crypto monies lingered in the range of 7% to 26% this Tuesday. Among the top electronic coins according to their market caps, EOS managed to be the best performer after it surged 26% as at press time. IOTA, on the other hand, was the weakest. It managed just a 4% upward run. Other coins, like Bitcoin cash, Ripple, Litecoin, Stellar, Cardano, and NEO traded above 7%. Ripple, which sold at 0.93% per USD is expected to gain dollar parity.
Due to the recent upward run in the market prices of various virtual currencies, their combined valuation reached $430 billion, bringing it near the $465 billion valued social media giant, Facebook Inc.