Crypto Markets Recover $5 Billion Lost on Monday, Bitcoin Tests $3,900 Support
Total cryptocurrencies market cap gained back the lost $5 billion yesterday, Bitcoin trades above $3,800 again.
Litecoin (LTC), the fourth cryptocurrency by market cap, is up almost 12 percent over the day, seeing gains of more than 13 percent over the past 7 days.
Binance Coin (BNB), the top 20 entrant native to the world’s biggest crypto exchange Binance, is up around 20 percent. The coin is seeing enormous growth over the week, up around 40 percent at press time.
Market visualization from Coin360
Largest cryptocurrency Bitcoin (BTC) has climbed back up to its $3,800 support, trading currently at $3,876, up more than 3 percent over the past 24 hours at press time. Bitcoin has managed to recover its weekly losses, up around 0.3 percent over the past 7 days. With that, Bitcoin’s dominance on the market has slightly dropped from yesterday’s 52.5 percent to 51.9, according to CoinMarketCap.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ethereum 7-day price chart. Source: CoinMarketCap
Ripple (XRP), the third-top cryptocurrency by market cap, is up 3 percent, trading at $0.314 at press time. Following major losses during the week, Ripple is still down more than 2 percent over the past 7 days.
Ripple 7-day price chart. Source: CoinMarketCap
While the most of top 20 cryptos by market cap are still in the red in weekly terms, EOS (EOS) is up around 3 percent over the past 7 days. In contrast, Bitcoin SV (BSV), the Craig Wright-supported hard fork of Bitcoin Cash (BCH), is seeing the biggest losses over the week, down around 8 percent.
Total market capitalization is up to $130 billion from yesterday’s low of $125 billion, with daily trade volume also seeing an increase to $30 billion. The number of cryptocurrencies listed on CoinMarketCap accounts for 2,101 coins at press time.
Total market capitalization 7-day chart. Source: CoinMarketCap
Recently, crypto industry news outlet The Block reported that international coffee giant Starbucks will start accepting Bitcoin payments, which will be instantly converted into fiat, after an equity deal. Starbucks, already known as a founding partner in United States digital asset platform Bakkt, will reportedly support Bakkt software to allow U.S. customers to pay for products.
Earlier today, Cointelegraph reported on French retail giant Carrefour having continued blockchain development by releasing a new distributed ledger technology (DLT)-powered product for tracking milk.
U.S. stock futures reportedly opened flat today after seeing sufficient growth on Monday, as investors weighed ongoing trade talks with China, according to CNBC. At press time, the Dow Jones Industrial Average (DJIA) is down around 0.8 percent, while the S&P 500 (SPX) and Nasdaq (NASDAQ) Composite are down 0.4 and 0.2 percent respectively.
Meanwhile, oil prices have risen on Tuesday amid OPEC’s efforts to tighten supply offset, the restart of Libya's biggest oilfield and the prospect of weaker demand, CNBC reports. According to Oilprice.com, international benchmark Brent crude is up around 0.05 percent to $65.7, while U.S. West Texas Intermediate crude (WTI) is up 0.23 percent to $56.7 at press time.
After seeing a low of more than five weeks, gold prices are still in the red, with spot gold down around 0.6 percent to $1,285 per ounce and U.S. gold futures down 0.5 percent to $1,287 at press time.