Crypto Markets Turn Green Following Tough Week, BTC Price Above $8,000
Major cryptocurrencies have entered the green zone after seeing severe losses over the past couple of days, with Bitcoin’s price over $8,000.
Saturday, Sept. 28 — All of the top-20 cryptocurrencies by market cap have entered the green zone, recovering from recent losses, with Bitcoin (BTC) hovering above the $8,000 mark, according to Coin360.
Cryptocurrency market daily overview. Source: Coin360
Over the past day, Bitcoin has been trading in a narrow corridor between $7,889 and $8,244, which mark the coin’s lowest and highest price points over the past 24 hours. At press time, BTC is trading at around $8,093, up around 1.6% on the day.
On its weekly charts, BTC is down by 20.4%, while its monthly losses amount to 18.16%.
Yesterday, Bitcoin’s Lightning Network developer Rusty Russel published a full disclosure of the network’s vulnerability discovered in August, accompanied by a solution. Russel pointed out that the vulnerability appeared while opening funding channels.
Bitcoin seven-day price chart. Source: Coin360
The second-largest crypto by market cap Ether (ETH) is currently trading at around $171,4, having gained 4.08% on the day at press time. ETH dipped to its lowest price point of the week at $161 on Sept. 24, reaching an intraweek high of $218 on Sept. 21.
Ether 7-day price chart. Source: Coin360
XRP has gained over 1% on the day and is trading at around $0.239 as of press time. The altcoin started the day near $0.234, gradually reaching its current price point. Over the week, the third-largest cryptocurrency by market cap registered losses of 17.9%, while its monthly losses are 6.79%.
XRP’s seven-day price chart. Source: Coin360
Among other major gainers on the day, the charts show Tezos (XTZ), Algorand (ALGO), Chainlink (LINK), Binance Coin (BNB) and Bitcoin Cash (BCH), which have gained 6.53%, 3.56%, 4.7%, 3.7% and 3.42% respectively.
Total market capitalization of all cryptocurrencies is around $215.5 billion as of press time. The daily trading volume of all coins is $50.7 at press time.
On Sept. 27, in a letter addressed to European parliament member Eva Kaili, European Central Bank president Mario Draghi noted that the European System of Central Banks is closely monitoring developments in the cryptocurrency industry. Despite displaying a positive approach to new technologies, Draghi apparently thinks that stablecoins and cryptocurrency in general are not yet a substitute for fiat currency.