Briefly
- Ethereum passed $ 900 today.
- Its performance may be due to a recent increase in interest in Bitcoin, which has led investors to search for the best altcoin.
- Recent collapse of XRPs following a lawsuit by the US Securities and Exchange Commission could lead to more difficult times for a coin whose market is already in the gutter
Ethereum, the second-largest coin per market capitalization, broke past $ 900 in a last-week push today. The price is still about $ 500 less than Ethereum’s high of $ 1,432, which it set in January 2018.
Ethereum’s weekend push means that the currency has risen by 20% over the past day and by 43% over the past week. The current price, $ 912, means that it has a market capitalization of $ 104 billion. This is about a sixth of Bitcoin’s market capitalization; Bitcoin has a market capitalization of $ 626 billion as of this writing.
Alt-Szn is once again among us. All the things were on today: Dogecoin with 70%, VeChain with 26%, Litecoin with 17% and Maker with 15%. Even Tie, the cryptocurrency which was supposed to be pegged to the US dollar, reached $ 1.02 today.
Net arm XRP, the coin that benefits most from altcoin push has fallen; the currency fell by 1.41% today and by 22% last week. The crash is down to the lawsuit against US securities and Swap Commission slaps on its creators.
The and privacy currency Monero, which this week along with ZCash and Dash, crashed two coins with strong privacy features, after Bittrex announced with the crypto exchange that they will remove it soon. Monero fell by 3%, last week by 16%, while ZCash managed to pull it back and rise by 1% this week (although it is still down 8%). Dash rose 0.27% last week, but still up 13%.
Ryan Taylor, CEO of Dash Core Group, told Decrypt: ‘We have helped Bittrex provide assistance to address any third party issues such as payment processors or regulators. Dash has been removed from other exchange listings in the past and we have successfully managed to call back as soon as our support is available. ”
Bitcoin is the largest currency per market capitalization, rising to a high of $ 34,408 this week. That means Bitcoin rose about $ 4,000 this weekend.
Analysts attribute this to an influx of institutional investors, a rogue algo-trader and an increase in activity from retail investors.
Some believe that Bitcoin’s staggering rise may be the result of a switch to general acceptance. Skybridge Capital, the hedge fund of former White House director Anthony Scaramucci, will open a large bitcoin fund on Monday, and MicroStrategy CEO Michael Saylor will continue to support the sign, after the final vote of confidence with a ten-digit investment.
The award’s popular observers, such as Elon Musk and Warren Buffet, seem to be treading a fine line. cool comments, playful mockery, en outright ridicule. After the recent price push, one can only speculate how they must feel about this bull run.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.