Yesterday, the cryptocurrency market experienced a significant surge. Some experts have attributed the surge in the price of Bitcoin Cash to the upcoming hardfork that everyone has been expecting for a long time now. The rally was spare headed by Bitcoin Cash (BCH), Litecoin (LTC), and Stellar (XLM). As all the cryptocurrencies started to gain value, the total market capitalization rose to about $209.5 billion. This is the highest number it has reached in three days. There was a 17% rise in price within a 24 hour period.
Bitcoin (BTC) Price Today – BTC / USD
The price of Bitcoin Cash (BCH) went up by over 30% within Friday and Sunday. On Bitfinex, BCH traded as high as $582. Everyone who owns Bitcoin Cash is waiting eagerly for the Nov 15 hard fork. When it is complete, each owner will receive their coins in a ratio of 1:1. The price rise can mainly be attributed to traders who started buying more in a bid to capitalize on the new coin. At the time of writing, Bitcoin Cash was trading at $561.62. This shows that it is up by 4.67% against the USD and up by 3.85% against Bitcoin. The 24 hour trading volume is $1,224,580,791 while the market capitalization is $9,795,303,924.
Stellar (XLM) and Litecoin (LTC) went up by 5.8% and 7.4% respectively. This is the highest they have gone in three weeks. At the time is writing, stellar (XLM) was trading at $0.242732. This shows that it was up by 0.47% against the USD but down by 0.79% against Bitcoin (BTC). The 24 hour trading volume of, Stellar (XLM) is $54,055,065 while the market capitalization is $4,590,924,344. On the other hand, Litecoin (LTC) was trading at $53.56. This shows that it is up by 0.83% against the USD and down by 0.35% against Bitcoin. The 24 hour trading volume is $461,793,165 and the market capitalization is $3,161,780,818.
Bitcoin (BTC), on the other hand, was hovering above $6,333. It didn’t change much during the weekend. This led to a fall in the overall market capitalization of Bitcoin in the industry by 52.5%. Right now, Bitcoin (BTC) is green against the USD at $6,436.90. This shows that it is up by 1.12% against the USD. The trading volume over a 24 hour period is $4,307,612,397 while the market capitalization is $111,748,709,860.
Over all, most cryptocurrencies had a good start this week. If things continue like this, there might be a significant surge in price before next week.