Crypto Markets Report Mild Gains, While Binance Coin Jumps 7%
Bitcoin continues to bounce around the $8,400 price mark, while most altcoins report positive gains; Binance Coin is seeing daily gains of more than 7%.
Sunday, Oct. 13 — Bitcoin (BTC) continues to bounce around the $8,400 price mark, while most of the top-20 coins by market capitalization report slight gains.
Market visualization. Source: Coin360
Cryptocurrency markets are seeing mild gains, generally within a tight range of 1–2%. Binance Coin (BNB), the number eight coin by market capitalization, is the only top-20 coin that that stands out and is surging more than 7.5%.
Bitcoin has been bouncing between $8,300 and $8,400 for most of the day. The world’s most popular cryptocurrency traded from an intraday low of around $8,330 up to its current trading price near $8,425, showing modest gains of around 1.2% in the past 24 hours.
While BTC trades within a tight range and might be getting ready for a big move, billionaire investor Tim Draper stated that he expects Bitcoin to change how governments operate worldwide. Draper called Bitcoin “the startup currency” and says he believes that BTC will bring the world together:
“With Bitcoin, and the decentralization that comes with Bitcoin, geographic borders have become less relevant. No longer are we at the mercy of dictators and toll trolls to grow the world economy. [...] In the long-term I believe with regard to business and economics, we are, more than ever, one world.”
Bitcoin 24-hour price chart. Source: Coin360
Ether (ETH), meanwhile, has fallen back again and hit its intraday low at $180, while slowly crawling towards its current trading price of $184 per coin at press time.
Ether seven-day price chart. Source: Coin360
Ripple’s XRP is showing positive gains of 3% over the past 24 hours and is trading at about $0.280 per coin at press time. Over a seven-day period, XRP is up by nearly 7%.
Cointelegraph recently reported that Ripple fused three of its services into features of its RippleNet offering. A Ripple spokesperson explained that now, “instead of buying xCurrent or xVia, customers will connect to RippleNet — on-premises or through the cloud — and instead of buying xRapid, clients will use On-Demand Liquidity.”
Ripple seven-day price chart. Source: Coin360
All of the top-20 coins are showing moderate gains in the past 24 hours, with the exception of Chainlink (LINK), which is down nearly 2.5%. As mentioned above, Binance Coin takes the lead with more than 7.5% at press time.
The overall cryptocurrency market cap increased from $224 billion to $227 billion, with Bitcoin making up 66.8% of the total.