The total market value of cryptocurrencies has risen above $2-trillion again as bitcoin continued to climb and the likes of cardano, XRP and dogecoin advanced as well.
It’s not just bitcoin. A number of cryptocurrencies are posting even gaudier numbers than the progenitor of digital money.
Digital currencies ethereum and XRP soared on Monday, gaining momentum as bitcoin powered on towards its all-time high.
After weeks of brutal selling, technical gauges are signalling potentially positive developments ahead for battered crypto assets.
Bitcoin slumped through $6 000 on Thursday, leading a rout of cryptocurrencies amid a wider global risk asset sell-off over the intensifying coronavirus crisis.
Cryptocurrencies are not immune to the gyrations rocking global markets, plunging along with a broad range of assets on Monday in the wake of the collapse in crude oil prices.
The slide in cryptocurrencies accelerated on Monday, with bitcoin piercing below the $5 000 mark for the first time since October 2017.
Bitcoin has tumbled below $6 000 for the first time since August and reached the lowest level in over a year, breaking the recent stretch of tranquility.
Ripple Labs is gaining new customers because financial firms are seeking faster, more up-to-date technology than the Swift banking network, CEO Brad Garlinghouse said.
After the crypto crash, the industry wants governments to confer legitimacy on digital currencies whose enthusiasts originally boasted of being outside the system. For some operators, the alternative could be bleak.