The crypto industry certainly surprised many in the market last week with a solid move higher. This move higher accelerated over the weekend as trader sentiment continued to improve, before profit-taking set in and unfortunately weighed heavily on prices.
Here is the state of play in the industry on Monday morning:
The bitcoin (BTC) price has fallen around 1% since this time yesterday to US$8,383 according to Coin Market Cap, giving it a market capitalisation of US$141.3 billion. The world's largest cryptocurrency climbed as high as US$9,106 over the weekend but was unable to hold onto these gains.
The Ethereum (ETH) price is currently fetching US$840.51, down 0.5% over the last 24 hours. This gives the popular cryptocurrency a market capitalisation of just under US$82 billion. Like bitcoin, Ethereum has been unable to hold onto its weekend gains and has fallen over 8% since peaking at US$917.40.
The world's third-largest cryptocurrency, Ripple (XRP), is mostly flat during the last 24 hours. XRP is currently priced at US$1.03, giving it a market capitalisation of US$40.3 billion. At one stage this weekend Ripple scaled as high as US$1.26. This means the volatile altcoin has fallen a massive 18% from its weekend high.
The Bitcoin Cash (BCH) price currently stands at US$1,261, up 2.5% since this time yesterday. The bitcoin spin-off has a market capitalisation of US$21.4 billion after a solid seven days of trade. However, like the other cryptocurrencies, it has fallen almost 10% since peaking at US$1,391 over the weekend.
Popular altcoin Cardano (ADA) has seen its price fall 4% over the last 24 hours to 37.9 U.S. cents. This has reduced ADA's market capitalisation to approximately US$9.8 billion. It also means that Cardano has tumbled over 18% since reaching a high of 46.2 U.S. cents during this weekend's trade.
Elsewhere, it has been a similar story for Litecoin (LTC) and Stellar Lumens (XLM). Both altcoins are down notably from their weekend highs as traders take profit off the table following strong gains.
