Crypto update: Bitcoin (BTC), Litecoin (LTC), and Stellar Lumens (XLM) climb higher


After a horrific few days of trade the cryptocurrency market has been reasonably stable over the last 24 hours.

This has left it with a total market value of US$260 billion according to Coin Market Cap.

Here is the state of play on Tuesday morning:

The bitcoin (BTC) price is up 0.7% over the last 24 hours to US$6,974.35 per coin, giving the world’s largest cryptocurrency a market capitalisation of US$118.2 billion. The bitcoin price fell as low as US$6,500 per coin over the Easter weekend as traders headed to the exits in their droves. According to Bloomberg, research firm ETH Zurich thinks that there are more declines to come in the near future, stating that their analysis “indicates current support levels for the Bitcoin market in the range of US$22–US$44 billion, at least four times less than the current level.”

The Ethereum (ETH) price is down 1% since this time yesterday to US$380.38 per coin. This has reduced the second-largest cryptocurrency’s market capitalisation to US$37.5 billion.

The Ripple (XRP) price has edged 0.1% lower over the last 24 hours to 49.3 U.S. cents. This leaves the popular altcoin with a market capitalisation just under US$19.3 billion.

The Bitcoin Cash (BCH) price has been a stand out performer on the market and pushed 1.3% higher since this time yesterday to US$665.06 per coin, giving it a market capitalisation of US$11.3 billion.

The Litecoin (LTC) price is up 1.5% over the last 24 hours to US$117.52 per coin. This has improved Litecoin’s market capitalisation to almost US$6.6 billion. The Litecoin price was smashed last week on general crypto weakness and news that its LitePay merchant payment processing technology had been scrapped.

Outside the top five there were moves higher for both EOS (EOS) and Stellar Lumens (XLM). The latter is up a massive 10% over the last 24 hours to 22.8 U.S. cents amid talk that US-giant IBM is increasing its focus on cryptocurrencies. Last year it was revealed that IBM was using the Stellar platform.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.



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