Bitcoin Trades Sideways as Major Altcoins Enjoy Sizeable Gains
Bitcoin prices are staying largely flat, but many major altcoins have enjoyed healthy gains over the past 24 hours.
Sunday, Aug. 11 — It is a largely green picture across the top-20 cryptocurrencies. While Bitcoin (BTC) has remained flat overall, altcoins have enjoyed some sizeable gains, with some rising over 9% on the day
Market visualization courtesy of Coin360
Bitcoin’s price was down a fraction at press time, losing 0.61% to trade at $11,352, according to Coin360. BTC’s value has tumbled by more than $500 in the past 24 hours — struggling to recover from a sudden $400 drop in the space of just five minutes on Saturday. Prices have remained relatively steady since then. Looking back at the past seven days, BTC is up by over 5%.
Bitcoin 24-hour price chart. Source: Coin360
Ether (ETH) enjoyed a more substantial uptick on Sunday. According to Coin360, prices have risen by almost 3% in the past day to reach $212.29 at press time. ETH has a current market cap of $22.5 billion, compared with $21.9 billion at the time of yesterday’s report. That said, the dominant altcoin is still down 3.19% on what it was a week ago.
Ether seven-day price chart. Source: Coin360
Ripple’s XRP has also enjoyed modest gains of about 1.78% over the last 24 hours, hovering between $0.290 and $0.310 throughout the day. The coin is down 4.83% on the week — 9.36% on the month.
Elsewhere among the top 20 cryptocurrencies, Stellar (XLM) has enjoyed something of a resurgence — gaining more than 9% to hit $0.079.
Stellar seven-day price chart. Source: Coin360
Dash (DASH) is also performing strongly — up 9.33% on the day to reach $107.88.
According to CoinMarketCap, BTC has achieved 68.6% market dominance at press time — its highest level since April 2017. Overall, the industry’s market cap stands at $298 billion.