In today’s latest cryptocurrency news, we can see that Bitcoin (BTC) is stable. As Bitcoin holds the $8,000 level and trades above it, the top altcoins are seeing minor losses as a result of a market wide correction.
Right now, Bitcoin is a fraction of 1% up on the day and is trading at around $8,060 at press time, as data from CoinMarketCap reveals. Looking at the weekly chart, Bitcoin holds a good position and is up by about 9.4%.
Meanwhile, Ethereum (ETH) is also holding onto its position as the biggest altcoin by its market cap.
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In the coming altcoin news, Ethereum’s market cap stands at $26.6 billion. The second largest altcoin, on the other hand, XRP is trading with a minor decline and has a $16.2 billion market cap at press time. The difference of $10 billion proves ETH’s dominance.
Still, ETH is not trading in the positive zone on the day. While Bitcoin holds the $8k level, ETH is nearly 0.50% down on the day and is in the negative zone in the past 24 hours. On the weekly charts, Ethereum’s value has increased by almost 6%. In contrast, Ripple (XRP) is over half a percent down in the last 24 hours and is currently trading at around $0.385. The weekly chart shows XRP trading green as the coin is up by over 3%.
Yesterday, the altcoin news showed Ethereum’s co-founder, Vitalik Buterin, proposing to create an on chain smart contract based Ether mixer.
Among the top cryptocurrencies, the one reporting the most notable price action is Bitcoin SV (BSV). Even though BSV is down by over 7% on the day, the price of this altcoin has jumped over 100% over the news on May 21, showing the founder of this coin Craig Wright (and self-proclaimed Satoshi Nakamoto) filing U.S. copyright registrations for Bitcoin’s whitepaper and code. This is all happening while Bitcoin holds its position near the $8k levels.
In the other industry news reported by many best cryptocurrency news sites, the initial coin offerings (ICO) sector is showing positive signs of an uptick due to a positive investor sentiment which has been spurred by the recent crypto market rally, as reports note.
Right now, the situation on the market is stable without big changes.
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