In short
- Ethereum has exceeded $ 900 today.
- Its performance may be the result of a recent increase in interest in Bitcoin, leaving investors looking for the best altcoin.
- The recent collapse of the XRPs after a lawsuit by the United States Securities and Exchange Commission may signal more difficult times for a currency whose market is already in the gutter
Ethereum, the second largest currency by market value, today exceeded $ 900 in a final weekend campaign. The price is still around $ 500 below Ethereum’s $ 1,432 historical record set in January 2018.
From Ethereum weekend push means that the currency rose 20% the previous day and 43% the previous week. Its current price, $ 912, means that it has a market capitalization of $ 104 billion. That’s about a sixth of Bitcoins market value; Bitcoin has a market capitalization of $ 626 billion at the time of this writing.
Alt-Szn is among us once again. All alts were active today: Dogecoin by 70%, VeChain by 26%, Litecoin by 17% and Maker by 15%. Up until Tether, a cryptocurrency which should be indexed to the US dollar, reached US $ 1.02 today.
Only poor XRP, the currency that often benefits most from altcoin shoves, has fallen; the currency fell 1.41% today and 22% last week. Its collapse is due to the US Securities and Exchange Commission slapped its creators.
That, and the Monero privacy coin, which this week fell alongside ZCash and Dash, two currencies with strong privacy features, after Bittrex’s crypto exchange announced it would soon remove them. Monero fell 3%, down 16% last week, while ZCash managed to pull back and win 1% this week (although it is still 8% below). Dash rose 0.27%, but still fell 13% last week.
Ryan Taylor, CEO of Dash Core Group, told Decrypt: “We have contacted Bittrex to offer assistance in addressing concerns of third parties, such as payment processors or regulators. Dash was removed from other exchanges in the past and we were very successful in being replaced as soon as our support was made available. “
The boost is Bitcoin, the largest currency by market cap that this week hit a high of $ 34,408, an all-time high. This means that Bitcoin has increased by about $ 4,000 this weekend.
Analysts attribute this to an influx of institutional investors, a dishonest something-trader and a wave of activity by retail investors.
Some think that Bitcoin’s escalating rise may be the result of a crossover in mainstream acceptance. Skybridge Capital, the hedge fund of former White House Communications Director Anthony Scaramucci, will open a huge bitcoin fund on Monday, and MicroStrategy CEO Michael Saylor will continue to support the token, after giving him the final vote of confidence with a ten digit investment.
It seems that high-level token observers, like Elon Musk and Warren Buffet, walk a careful line between cool comment, playful mockery, and complete scorn. After their recent price hike, we can only speculate how they should feel about the hike.
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