Bitcoin Worth Over $7,400 Again as US Stock Market Sees Moderate Downturn
Most of the top 20 cryptocurrencies are reporting moderate gains on the day as bitcoin crossed the $7,400 mark.
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 $20.5 billion. The second-largest altcoin, XRP, has a market cap of $13.5 billion at press time.
CoinMarketCap data shows that ETH is up over 2% over the last 24 hours. At press time, ETH is trading around $193. On the week, the coin has also seen its value increase by over 15%.
Ether 7-day price chart. Source: CoinMarketCap
XRP is up over 3.5% over the last 24 hours and is currently trading at around $0.324. On the week, the coin is up 7.7%.
XRP 7-day price chart. Source: CoinMarketCap
At press time, the total market capitalization of all cryptocurrencies is $220.5 billion, nearly 18% higher than the value it reported a week ago.
Total market capitalization 24-hour chart. Source: CoinMarketCap
In traditional markets, the United States stock market is seeing a moderate downturn so far today, with the S&P 500 down 2.3% and the Nasdaq down 2.96% at press time. The CBOE Volatility Index (VIX), on the other hand, has gained a solid 30.61% on the day at press time.
Major oil futures and indexes are seeing mixed movements today, with WTI Crude up 2.08%, Brent Crude up 2.25% and Mars US down 0.13% at press time. The OPEC Basket is also down 0.31% and the Canadian Crude Index has gained 2.89% by press time, according to OilPrices.