Bitcoin Holds Over $8,000 as Top Altcoins See Minor Losses
Most of the top 20 cryptocurrencies are reporting moderate losses on the day as bitcoin still holds over the $8,000 mark, with minor gains.
Market visualization courtesy of Coin360
Bitcoin 7-day price chart. Source: CoinMarketCap
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.6 billion. The second-largest altcoin, XRP, has a market cap of $16.2 billion at press time.
CoinMarketCap data shows that ETH is nearly 0.41% down over the last 24 hours. At press time, ETH is trading around $251. On the week, the coin has also seen its value increase almost 6%.
Ether 7-day price chart. Source: CoinMarketCap
XRP is over half of a percent down over the last 24 hours and is currently trading at around $0.385. On the week, the coin is up over 3%.
XRP 7-day price chart. Source: CoinMarketCap
Among the top 20 cryptocurrencies, the one reporting the most notable price action is bitcoin SV (BSV), which is down over seven percent on the day. As Cointelegraph reported on May 21, BSV promoter and self-proclaimed Satoshi Nakamoto Craig Wright filed U.S. copyright registrations for bitcoin’s whitepaper and code. Following the news, BSV’s price jumped over 100%.
At press time, the total market capitalization of all cryptocurrencies is $250.8 billion, over eight percent higher than the value it reported a week ago.
Total market capitalization 7-day chart. Source: CoinMarketCap
In other industry news, according to a recent report, the initial coin offerings sector is showing signs of an uptick due to positive investor sentiment, apparently spurred by the recent crypto market rally.