Cryptocurrency market update: Bitcoin comes close to $9,000 – FXStreet

  • BTC/USD set the new high of 2019 amid strong bullish momentum.
  • Altcoins are also growing strongly amid positive fundamentals.

Cryptocurrency market rallied strongly during late Sunday hours and extended the upside on Monday. The total capitalization of all digital assets in circulation jumped to $269 billion, while an average daily trading volume hit $90 billion by the time of writing. 

As the signs of the upcoming mass adoption pile up, the market is more inclined to buy a cryptocurrency and embrace the digital future of money.

“Easier to spend means a greater-use case and a greater level of adoption. The tipping point is likely very close now,” Mati Greenspan from eToro commented, as cited by Bloomberg.

Top-3 coins price overview

  • Bitcoin is changing hands at $8,7400, off the intraday high hit at $8,944.  The first digital coin has gained nearly 8% in recent 25 hours amid keen buying interest. While the coin is vulnerable to the downside correction on approach to critical $9,000, a sustainable move higher will unleash a vast bullish potential.
  • Ethereum, the second largest digital asset with the current market capitalization of $28.4 billion, is trading at $268. ETH/USD has gained 7.5% in the recent 24 hours. The price tested waters above $272.00 barrier during early Asian hours but failed to keep the ground.
  • Ripple’s XRP is hovering above $0.4100, with over 7% of gains since this time on Sunday.  The coin has retreated from the Asian high of $0.42 amid technical correction.

The biggest market-movers

  • TRON (TRZ) and Bitcoin SV (BSV) both gained over 18% in recent 24 hours and became the fastest growing coins out of top-120. TRX is chow changing hands at $0.0327, while one BSV goes for $107.27.
  • Litecoin is also doing a week with 11% of gains on a day-on-day basis. 

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