This weekend seems to be bullish on the digital currency market. Normally, digital currencies tend to trade sideways during the weekends due to very little or no activities. However, this weekend seems to be different. Yesterday, the digital currency markets saw a slight increase in valuation. Almost all the top digital currencies in the market were trading in the green, with gains ranging from one to three percent.
Tether (USDT) recently declined heavily below its historical trading range. The digital currency declined towards the 85 cents level on the Kraken exchange. Fortunately, the digital currency began a glorious comeback recently. Yesterday, the digital currency settled close to its characteristics trading pattern. Tether (USDT) surged to the 99 cents level, which is close to its original price range of $1. The stablecoin is claimed to be a 1:1 ratio with the U.S dollar, as Tether claims every USDT is backed by $1 in their account.
Bitcoin (BTC) Price Today – BTC / USD
At the time of writing, Bitcoin (BTC) is trading at $6,540 after an increase of about one percent over the past twenty-four hours. Bitcoin (BTC) recently surged towards the $6,965 mark after the value of Tether (USDT) plunged. This happened on the 17th of October. However, the digital currency has returned to its trading range, around the $6,500 mark.
Over the past seven days, Bitcoin (BTC) has seen a growth of about three percent. The current market cap of the digital currency is $112.71 billion and its trading volume over the past twenty-four hours is $3.27 billion.
Throughout last month and early this month, the value of Bitcoin (BTC) has been pretty stable. Earlier this month, the digital currency achieved a seventeen-month low volatility rate. This marked the highest level of stability the digital currency has seen over the past 17 months.
Ethereum (ETH) Price Today – ETH / USD
Ethereum price analysis
Ethereum (ETH) also benefited from the recent positive trend across the market. The digital currency is also trading in the green alongside Bitcoin (BTC). Ethereum (ETH) is currently trading at $207 after amassing gains of more than 1.2 percent over the past twenty-four hours.
Ethereum (ETH) is the leading altcoin in the altcoin market and it has been following the trend of Bitcoin (BTC) over the past week. Over the past seven days, Ethereum (ETH) has amassed gains of more than 3.3 percent. The current market cap of the digital currency is $21.26 billion and its trading volume over the past twenty-four hours is $1.26 billion.
At the time of writing, all the top twenty digital currencies in the market are trading in the green except Tether (USDT), which is down by 0.06 percent over the past twenty-four hours. Some of the top performers in the market over the past 24 hours are Bitcoin Cash (BCH), Monero [XMR], and Zcash (ZEC). Zcash (ZEC) seems to be the highest, with gains of more than 5 percent in the last 24 hours.
At press time, the total market cap of the entire crypto markets is around $210 billion. The market cap was around $209 on Saturday. As the value of digital currencies continues to grow, the entire market cap is carried along.