Bitcoin Pops Above $3,700 As Crypto Market Flashes Green
Bit coin price update:
Litecoin, the world’s fourth-largest cryptocurrency by market cap, led the charge by surging just over 40 percent from its opening price of $33 to reach a 3-month high of $47. The move was backed by $1.4 billion in trading volume, which is its most since Feb. 20, 2018, according to Coinmarketcap.
According to data from CoinDesk’s Crypto-Economic Explorer, seven other cryptocurrencies are currently boasting double-digit 24-hour price increases, including EOS, ether, cardano, bit coin cash, IOTA, NEO and lisk.
The world’s largest cryptocurrency by market capitalization, bitcoin is also flashing green.
Bitcoin price has since slightly pulled back and is now trading at an average price of $3,625, per the CEX. In all, the capitalization of the broader cryptocurrency market has appreciated roughly 9 percent in the last 24 hours, jumping from $112 billion to $122 billion to clock its highest valuation since Jan. 20th. As it stands, the market’s $122 billion valuation represents an 85 percent depreciation from its all-time high north of $820 billion set in January 2018.
Sam Ouimet’s original article for coindesk.com reduced by 31%
Related news – Crypto Markets Flying: Litecoin Up 30%, Bitcoin Surges 8%, Ethereum 12%, What’s Pushing It?
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