Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $11,574.6 (+1.9%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $397.73 (+6.31%), while XRP has jumped by 2.22% and is now trading at $0.284.
FxPro's team of analysts say:
"The price of Bitcoin has increased slightly by 2% over the past 24 hours to $11,500. During the same period, all coins on the top 10 have grown between 2.5% (BSV) and 32.3% (LINK).
Over the last week, the capitalization of the whole crypto market has increased by almost 3%. At the end of this week, we could say that the total capitalization has experienced a slight increase in which not only Bitcoin has participated, but also currencies with a low capitalization.
On the other hand, Ethereum and Ripple have undergone a short-term correction, which has not surprised anyone considering their recent strong growth.
Global news should also be taken into account. China is actively testing its domestic blockchain system with its own crypto. 8BTC has reported several Chinese major banks are already testing the People's Bank of China's digital currency system. This currency will act as an intermediate link between cash and non-cash money.
At the same time, cryptos are gaining increasing adoption in the US. Crypto trust fund Grayscale Investment has taken an unprecedented step by starting to advertise Bitcoins on the US television. The ad aims to promote crypto investment products."
According to CoinMarketCap’s ranking, all currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $359,787,727,529.
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