Wednesday, September 26: following a slight sell-off, the crypto markets are witnessing another wave of green with almost all the first 100 cryptocurrencies for market capitalization in the green. Earnings in the top 20 coins by market capitalization are reaching over 20 percent in the last 24 hours at the time of printing.
Market display from Coin360
Bitcoin (BTC) is slightly higher and trades more than $ 6,500 price points today. The main cryptocurrency increased by about 2% over a 24-hour period and at the time of printing it traded at around $ 6.524, with a growth of around 3% during the week. Yesterday, the price of Bitcoin had dropped to a low of $ 6,366, after a sharp increase of $ 6,700 over September 21st.
Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index
The current second cryptocurrency by market capitalization, Ethereum (ETH), has seen more gains today, nearly 5% in a 24-hour period and trading at around $ 220 at the time of printing. Yesterday, the altcoin had dropped to a minimum of $ 206, and the current price is still 20% down over the last 30 days.
Ethereum 7-day price table. Source: Cointelegraph Ethereum Price Index
Ripple (XRP), which is now the third highest cryptocurrency by market capitalization, has seen one of the largest gains among the top 20 coins by market capitalization, having also managed to briefly exceed Ethereum in terms of market capitalization for the second time in a week. The cryptocurrency rises 16.5% over a 24-hour period and trades at $ 0.53, with a market capitalization of about $ 21 billion – about a billion less than the current market capitalization of Ethereum.
Today, the financial services company SBI Holdings announced that it has acquired a payment license from the Japanese regulators to manage a blockchain-based smartphone application running on Ripple.
7 days price chart ripple. Source: Cointelegraph Ripple Price Index
The total market capitalization is currently reflecting the rebound of the cryptographic market, amounting to approximately $ 217 billion at the time of printing. However, the current capitalization point is still a bit down on the recent highs of $ 228 billion. The daily trading volume of the market now amounts to over $ 15.8 billion, with the total number of commercial cryptocurrencies equal to 2.003.
Total market capitalization graph of 7 days. Source: CoinMarketCap
Bitcoin Cash (BCH) has seen the biggest gains today in terms of the top 20 coins by market capitalization. The digital currency traded at around $ 517 at the time of printing, with a growth of 19% in the last 24 hours and weekly earnings of around 20%.
Yesterday, the Swiss Bank for International Settlements (BIS) published a report that highlights a strong correlation between cryptocurrency prices and news on global regulatory actions in the sector.
Recently, the lower house of the French parliament has started a debate on the regulatory framework for the Initial Coin Offerings (ICO), with the goal of adopting a sustainable development of "freed companies that are financed, more innovative and more correct".
The new wave of green on cryptographic markets is also coming in the recent news of the future physical Bitcoin futures that will be launched by the Intercontinental Exchange (ICE), which manages the New York Stock Exchange (NYSE). The first offer of ICE's Bakkt cryptocurrency platform will take the form of physical futures of BTC – with the goal of creating a "regulated ecosystem" for institutional investors – with the first contracts available in at least three currencies, such as the dollar USA, British pound and euro.