It has been a positive start to the week for cryptocurrency traders with almost all the major cryptos pushing notably higher. This has increased the value of the entire market to approximately US$449 billion according to Coin Market Cap.
Here's the state of play on Tuesday morning:
The biggest mover in dollar terms has been the bitcoin (BTC) price. It is up 7.5% since this time yesterday to US$10,305 per coin. Although no single catalyst is known to be the cause of the gain, there has been stronger than normal demand from Japanese traders. This left bitcoin with a market capitalisation of US$174 billion or 39.2% of the entire market.
The Ethereum (ETH) price is up 3.3% over the last 24 hours to US$867.05 per token. The world's second-largest cryptocurrency now has a market capitalisation of US$84.85 billion.
The Ripple (XRP) price has edged 2.2% higher since this time yesterday to 95.6 U.S. cents, increasing its market capitalisation to US$37.4 billion.
Bitcoin Cash (BCH) has been one of the biggest movers with an almost 7% gain during the period to US$1,250 per coin. The bitcoin spin-off now has a market capitalisation of US$21.2 billion.
The Litecoin (LTC) price has carried on with its good run and is up 2% to US$219.72. This gives the increasingly popular altcoin a market capitalisation of US$12.2 billion. Litecoin received a boost yesterday when its founder predicted that it would overtake Bitcoin Cash this year to become the fourth-largest cryptocurrency by market capitalisation. The Litecoin price will need to rise 74% from here to achieve this.
Finally, the NEO (NEO) price has been the biggest mover amongst the top ten cryptocurrencies. It is up a massive 15% since this time yesterday to US$135.11 per coin. The China-based cryptocurrency was given a major lift when ratings agency Weiss gave it an A- rating. This is the first time a cryptocurrency has been given a rating higher than B+. As a comparison, bitcoin has a C+ rating by Weiss.
