Major Cryptocurrencies in The Green as Bitcoin Rallies Over $8,100
Wednesday, June 12 — Top cryptocurrencies bitcoin (BTC), ether (ETH), and ripple (XRP) are all in the green. Cryptocurrencies on the whole are trending up today, according to data provided by Coin360.
Market visualization courtesy of Coin360
After peaking around $9,000 in May, BTC crashed down to under $8,000 but seems to be slowly recovering. BTC was trading just shy of $8,000 earlier today, and is now trading at $8,130 at press time. Overall, the top cryptocurrency is up by approximately 2.72% over teh past 24 hours at press time.
Bitcoin 7-day price chart. Source: Coin360
Top altcoin and number two cryptocurrency ether is trending up by over 6%, and has recovered to trade at $260 at press time. Ether, the market capitalization of which is currently $27.7 billion, dipped to $229.32 earlier this week.
Ethereum 7-day price chart. Source: Coin360
The third token by market cap, XRP, has also seen a moderate gain on the day, trading at $.401 and trending up by approximately 1.90%. Overall, XRP has seen much less substantial gains than bitcoin and ether on the day.
XRP 1-day price chart. Source: Coin360
Total market cap of the top 100 cryptocurrencies is currently $250.6 billion according to the data on Coin360’s summary table.
As previously reported by Cointelegraph, the CEO of blockchain venture capital firm Digital Currency Group (DCG), Barry Silbert, says that crypto price trends indicate that the crypto bear market may be finished for now.
Bitcoin price analyst Oliver Isaacs has remained bullish on BTC despite its recent decline, predicting that it will rally up to $25,000 by late 2019 or early 2020.
Silbert and Isaacs separately commented on institutional adoption as a reason to remain optimistic about crypto’s near future. Silbert commented on insurance giant Fidelity’s recent BTC custody option, while Isaacs pointed to corporate giants such as Microsoft, Amazon, Starbucks and Whole Foods who now have cryptocurrency payments options available to the public.