The cryptocurrency markets have once again shown signs of maturity after recovering from last week’s massive sell-off. A fresh flush of green has entered the trading charts with most of the top coins seeing gains above 2% on the day.
Bitcoin prices fell below $6200 in the wake of Thursday’s sell-off while major altcoin Ether struggled to live above the $200 level. However, in the few hours leading up to press time, the two largest cryptocurrencies by market cap have made a turnaround.
Bitcoin prices have impressive rebounded to $6644 while ETH is nearing 6% gains on the day with a $213 value.
The charts below reveal that BTC jumped nearly 11 percent in 2 hours to reach up to $6945. This leap was followed by slight price corrections which return the figures to similar numbers as around this time last week.
Unsurprisingly, there are large spreads in the prices of Bitcoin on various crypto exchanges during press time. The top cryptocurrency was selling for $6431 on Coinbase and $6939 on Bitfinex.
Market cap for both cryptocurrencies (BTC and ETH) stands at $114 billion and $21 billion respectively.
Ripple (XRP) Joy After Lengthy Let-Off
Among the top ten coins, Ripple’s XRP is seeing the largest gains in the wake of the market rebound.
Late in September, the altcoin showed positive signs that it could be heading to $1, but has since then suffered a dip and even gone below $0.4. At press time, XRP has posted a near 8% gains on the day with price pegged at $0.45.
Other coins within the top ten (LTC, BCH, XLM, ADA, and EOS) are seeing gains within 3-7%.
The total market cap of all cryptocurrencies has grown by over 5% within the last ten hours and stood at $213 billion at the time of writing. BTC dominance is 54.2%