The cryptocurrency market has added $15 billion over the past 24 hours, with tokens such as Dogecoin, EOS, Aurumcoin and others recording massive gains over the past few hours.
Despite the rise in the total market cap, the trading volume has slipped slightly, dropping below the $13 billion mark.
Bitcoin price analysis
Bitcoin has gone up by 1% over the past 24 hours. The leading cryptocurrency was trading at $6,970 yesterday but has now increased to reach $7,076. The rise comes as the wider market records massive gain.
Satis Group has predicted that the BTC price will hit $96,000 by 2023 while also estimating that the crypto market will reach a market cap of $3.6 trillion by that year.
Despite the increase in price, the daily trading volume has dropped, from $4.5 billion to now stand at $4.5 billion.
Over the past five days, Bitcoin has gained 5.3% against the U.S Dollars. BTC was trading at $6,699 five days ago but has since then risen to now trade at $7,076, with a high of $7,125 experienced during the week.
Ethereum price analysis
Ethereum has followed Bitcoin in trading in the green zone. The cryptocurrency was trading at $281 yesterday but has risen by 2.5% to now trade at $286 per ether. Ethereum developers have decided to cut block reward by 33% in their next hardfork by next month.
Similar to Bitcoin, the Ethereum daily trading volume has declined despite an increase in price. ETH 24-hour trading volume now stands at $1.3 billion, down from $1.5 billion yesterday.
Against the U.S Dollars, Ethereum has gained nearly 5% over the past five days. It was trading at $274 a few days ago but has since then risen, experiencing a high at $295 during the week. Against BTC, ETH has lost by less than a percent over the past five days.
Ripple price analysis
XRP has risen by nearly 3% over the past 24 hours. The cross-border payment cryptocurrency was trading at $0.33 yesterday but has now risen to trade at $0.34 per coin.
The rise comes despite ICO advisory firm claiming that the cryptocurrency would drop to $0.01 over the next five years.
XRP has followed the trend, with its 24-hour trading volume dropping despite an increase in price. Ripple’s daily trading volume yesterday was $234 million but has dipped to now stand at $220 million.
Over the past five days, XRP has gained nearly 6% against the Greenback. It was trading at $0.32 five days ago but now trades at $0.34, with a peak of $0.35 experienced during the week.
Against Bitcoin, however, EOS is down by 0.04% over the past five days.
EOS price analysis
For the second consecutive day, EOS posted the highest gain amongst the leading cryptocurrencies. The smart contract and DApp cryptocurrency are up 8% over the past 24 hours and now trades at $6.66 per coin.
Unlike the others, EOS daily trading volume has increased alongside the price. The 24-hour trading volume for the cryptocurrency yesterday was $764 million but has risen to stand at $924 million.
Against the U.S Dollars, EOS posts an amazing 35% increase over the past five days. It was trading at $4.9 five days ago but embarked on a run that sees it now rise to $6.6 per coin. Against BTC, it is up by 28% over the past few days.
Litecoin price analysis
Litecoin was the second best performing cryptocurrency after EOS amongst the leading cryptocurrencies. The seventh largest cryptocurrency has gained nearly 6% over the past few hours, rising from $60 yesterday to now trade at $64.
The daily trading volume has also risen over the past 24 hours from $209 million yesterday to now stand at $289 million.
Over the past five days, LTC is up 13% against the U.S Dollars. It was trading at $57 five days ago but has been ascending since then. Against Bitcoin meanwhile, it is up 7.4% over the past five days.