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This morning, 24 hours of very positive exchanges were recorded for the encrypted market, with solid gains.
This increased the value of the entire market to $ 216.7 billion according to the Coin Market Cap, which is a 2.4% increase from yesterday.
Why is the crypto market pushing higher?
Traders may have responded positively to a report on Bloomberg that compared cryptocurrencies with the railways in the nineteenth century and the collapse of the dot-coms of 2000-2002.
The report suggested that the market crash that has been exposed this year could be exactly what the cryptocurrencies have to take the next step forward.
He states that: "Railroad stocks collapsed after a bubble in the nineteenth century, but the railroad has continued to transform our world.The actions of the Internet have collapsed in the collapse of the dot-coms of 2000-2002, but this has to its once the bad companies have been cleaned up and the road to the next technological revolution has been opened, including the rise of Amazon and Google ".
In addition to this, traders may have accumulated on the market prior to a US SEC decision on nine cryptographic ETFs. The deadline for submission was the beginning of the week, which meant that a decision could be taken from one day to the next.
Here's how the prices are going on Wednesday morning compared to 24 hours ago:
The Bitcoin (BTC) the price increased by 0.4% to US $ 6.444.80 per currency. This brought the cryptographic giant's market capitalization to $ 111.9 billion.
The Ethereum The price (ETH) rose 3% to $ 213.81 per token. This gain led the market capitalization of Ethereum to $ 22 billion.
The Ripple (XRP) the price continued its strong run and rose by a further 9.2% to 52.7 US cents. This led the XRP market capitalization to $ 21.2 billion.
The Bitcoin Cash The price (BCH) rose by 8.3% to $ 600.01 per token. This increased Bitcoin Spin Off's market capitalization to US $ 10.5 billion.
The EOS (EOS) the price rises 3.6% to $ 5.63 per token, bringing the EOS market capitalization to $ 5.1 billion.
Outside the first five things were just as positive. The Stellar (XLM) the price increased by 6.4%, litecoin (LTC) is 2.3% higher, Cardano (ADA) has climbed 3.6%, Monero (XMR) increased by 2% e To tie (USDT) was slightly higher.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all have the same opinions, but we are all convinced that, considering a diversified range of insights, we have become better investors. Motley Fool has a disclosure policy. This article contains only general investment advice (with AFSL 400691). Authorized by Scott Phillips.
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