Major Cryptocurrencies See Green While US Crude Futures Hit New High for 2019
Bitcoin continues to trade at around $4,000, with other top 20 cryptocurrencies reporting marked gains.
Wednesday, Feb. 20 — cryptocurrency markets are turning around for the green after trading sideways at the beginning of the day. Almost all top 20 coins are seeing minor gains, according to data from CoinMarketCap.
Market visualization from Coin360
Earlier today, Bitcoin (BTC) broke the $4,000 threshold, reaching the $4,010 mark. However, at press time the leading cryptocurrency is trading under $4,000 at around $3,981, having gained just around 1 percent over the last 24 hours. On its weekly chart, BTC saw its lowest price point of around $3,618 on Feb. 15.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ethereum (ETH) is currently trading at a$147.62, up almost 2.5 percent on the day at press time. The altcoin is up around 20 percent from its price point of around $123 at the beginning of the week. On the month, ETH is now up slightly over 18 percent.
Ethereum 7-day price chart. Source: CoinMarketCap
The third largest digital currency by market capitalization, Ripple (XRP), has gained 1.48 percent on the day and is trading around $0.329 at press time. On its weekly chart, XRP has increased by 8.10 percent, while on the month the coin has registered a loss by 0.3 percent.
Ripple 7-day price chart. Source: CoinMarketCap
EOS (EOS) meanwhile has seen ongoing gains, up by 34 percent on its weekly chart and 56 percent over the 30-day period. At press time, EOS is up by 7.76 percent over the past 24 hours and is trading at $3.83.
EOS 7-day price chart. Source: CoinMarketCap
Today, institutional-grade cryptocurrency investment services firm BitGo announced that it will provide wallet and custody support for cryptocurrency Tron (TRX). TRX has not yet reacted to the news, up by just 1.66 percent on the day and trading at $0.0251 at press time.
Total market capitalization of all 2,074 cryptocurrencies on CoinMarketCap is currently around $134.8 billion, up from $121.3 billion a week ago.
Total market capitalization 7-day chart. Source: CoinMarketCap
In oil markets, West Texas Intermediate futures hit a new high for 2019, up 1.5 percent at $56.92 per barrel, while Brent crude futures rose 63 cents, or 1 percent, to $67.08 per barrel in the middle of the day.
Andy Lipow, president of Lipow Oil Associates in Houston, said that "The oil market is supported by the OPEC and non-OPEC cuts from countries that are determined to see higher prices and supply disruptions."