Crypto Markets Keep Building Momentum, Bitcoin Inches Towards $6,400

July 16, 2018
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Crypto markets keep growing, with nine out of top ten cryptocurrencies by market cap firmly in the green.

Sunday, July 15: crypto markets continue building momentum, with nine out of the top ten cryptocurrencies by market cap firmly in the green, according to Coinmarketcap.

Market visualization from Coin360

Bitcoin (BTC) has gone above the $6,300 mark, up about 1.5 percent over the past 24 hours, trading at $6,354 at press time. The top cryptocurrency continues its growth after dipping to an intraweek low of $6,180 on Friday.

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH) is up 3.4 percent on the day, trading at $448 at press time. The coin has gone as low as $424 during the week, and it is still down around 10 percent over the past 30 days.

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

After plunging to $242 billion on July 13, total market capitalization of all cryptocurrencies is back to its average monthly levels, currently just below $256 billion.

Total market capitalization chart. Source: Coinmarketcap

Stellar (XLM) is currently the biggest winner among the top ten coins by market cap, up 6.1 percent and trading at around $0.218 at press time. XLM is also the only coin among the top ten that has seen gains over the week, amounting to about 3.3 percent.

In terms of losses over the past week, EOS has suffered the most among the top ten. Despite the fact that the coin has gained almost 6 percent in 24 hours to press time, it is still down 15.7 percent over the past 7 days, trading $7.40 at press time.

On July 12, Chile’s Court of Appeals ruled in favor of crypto exchange Orionx, ordering the state-owned bank Banco Estado to reopen the company’s previously closed deposit account. It also stated that the bank’s original decision to close the account was “arbitrary and illegal.”

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