Aug 16, 2019

Crypto Market Sends Mixed Signals as Ether and Bitcoin Price See Green

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Market Update

Friday, Aug. 16 — Bitcoin (BTC) and Ether (ETH) are seeing some upward movement as XRP continues to slump.

Market visualization. Source: Coin360

Bitcoin is trading at $10,480 at press time, representing a 4.58% price increase on the day. Bitcoin is seeing some momentum for an upward climb, peaking at $10,500 so far and continuing to stay away from the four-figure mark it fell to yesterday. Still, BTC needs to climb by about 15% to retake the $12,000 barrier, which it surpassed multiple times earlier this month.

Earlier today, anticipated BTC futures platform Bakkt announced that it has been approved for launch — namely by the Commodity Futures Trading Commission and New York State Department of Financial Services — and will roll out on Sept. 23.

Bitcoin 7-day price chart. Source: Coin360

The number two cryptocurrency, Ether, has turned around to trade slightly in the green today. ETH is trading over $185, showing a 0.61% increase on the day. ETH has largely been on the decline this week, trading over $218 on Friday and falling by approximately 14.7% to hit its current price.

Ether 7-day price chart. Source: Coin360

XRP, the second-largest altcoin by market cap, is trading at $0.262 and trending down by 0.24% on the day. Like many of the top cryptocurrencies, XRP has been slumping this week. Unlike BTC and ETH, however, XRP has not managed to get back into the green as of press time.

XRP 7-day price chart. Source: Coin360

Alongside BTC and ETH, other top-20 cryptos in the green today include EOS, Tether (USDT), Bitcoin SV (BSV), Binance Coin (BNB), Monero (XMR), Stellar (XLM), Dash (DASH), and Tezos (XTZ).

The total market capitalization of the top 100 cryptocurrencies is currently over $270.9 billion at press time, according to Coin360.

Keep track of top crypto markets in real time here

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