Digital asset markets have been surging over the last 24 hours as the market valuation of the entire cryptoconomy has gained over $20 billion. Moreover, global trade volume has been significant, crossing $85 billion worth of coins swapped in the last day.
Crypto Markets Add $20 Billion in Less Than 24 Hours
Cryptocurrency markets have been on the move once again as significant gains have been seen across the board. Large amounts of steady trade volume are taking place on global exchanges and there’s been an increase of tether (USDT) and the U.S. dollar trading. Bitcoin core (BTC) climbed to a high of over $8,160 per coin at around 5:30 p.m. EST, but had subsequently fallen to $7,700 range by 7:30 p.m. two hours later. Currently, BTC is trading for $7,986 per coin and is up 14.1% today. Bitcoin Cash (BCH) jumped above the $400 range around the same time and now hovers around $392 per BCH at press time.
On Monday, May 13, the second highest valued market capitalization belongs to ethereum which is up 6.3% today. Each ETH is swapping for $200 per coin and the cryptocurrency has a market valuation of around $21.2 billion. Ripple (XRP) follows ETH with a market cap of about $14.2 billion as each coin is trading for $0.33. Litecoin (LTC) has seen a meager gain today capturing 3.9% over the last 24 hours and each LTC is around $89 at press time.
Bitcoin Cash (BCH) Market Action
Bitcoin cash markets have done extremely well and are up over 33% over the last week and 10.7% today alone.