After a disappointing couple of days of trade the crypto market has rebounded over the last 24 hours and gains are being seen largely across the board.
This has lifted the entire value of the crypto market by 1.4% to US$224.7 billion according to Coin Market Cap.
Here is the state of play on Saturday morning:
The Bitcoin (BTC) price has climbed 1.2% over the last 24 hours to US$7,028.43. This gives the world’s largest cryptocurrency a market capitalisation of US$121.2 billion. Bitcoin lost approximately 10% of its value in the month of August. Traders will be hoping that September is a better month for the crypto giant.
The Ethereum (ETH) price has lost 0.5% of its value since this time yesterday and is down to US$282.61. Ethereum’s market capitalisation has dropped to US$28.7 billion as a result of this latest decline. There doesn’t appear to be an obvious reason why it has underperformed the rest of the market today.
The Ripple (XRP) price has risen 0.2% over the period to 33.51 U.S. cents. This has lifted the alt coin’s market capitalisation to US$13.3 billion.
The Bitcoin Cash (BCH) price has pushed 0.4% higher over the last 24 hours to US$540.42. This gives the Bitcoin spin off a market capitalisation of just under US$9.4 billion.
The EOS (EOS) price has been a strong performer and is up a sizeable 6% since this time yesterday to US$6.40. This has improved the EOS market capitalisation to US$5.8 billion.
Outside the top five there were gains for Stellar (XLM), Litecoin (LTC), and Cardano (ADA). Stellar rose 0.5%, Litecoin climbed 2.5%, and Cardano pushed 1.3% higher. The US dollar pegged Tether (USDT) fell slightly and IOTA (MIOTA) dropped 0.2%.
I feel that things look a bit mixed for the crypto market right now and prices could go either way. Because of this I intend to keep my powder dry and watch on from the safety of the sidelines.