Bitcoin Price Flirts with $11,000 as Other Top Coins Retreat

Journalist:
March 2, 2018

The Bitcoin price continued to flirt with the $11,000 threshold on Friday, even as other top cryptocurrencies experienced minor declines. Meanwhile, another former top 10-cryptocurrency is eyeing a return to this exclusive list.

Source: CoinMarketCap

Altogether, the cryptocurrency market cap rose by approximately $11 billion on Friday — a single-day increase of two percent — and is currently valued at $462.6 billion.

Bitcoin Price Flirts with $11,000

The Bitcoin price posted the best single-day performance among large-cap coins with an index-matching two percent increase. At present, the flagship cryptocurrency is trading at $10,932, representing a slight pullback from the intraday peak of $11,189 it hit earlier this morning. Bitcoin now has a $185.1 billion market cap, and its share of the total cryptocurrency market cap has shot up to 40.7 percent.

Bitcoin Price Chart

Ethereum Price Posts Minor Decline

The Ethereum price, meanwhile, posted a minor decline for the day, falling one percent to a present value of $861. Ethereum currently has an $84.3 billion market cap, which translates into an 18.6 percent share of the index.

Ethereum Price Chart

Top-Tier Altcoins See Minor Declines, But a Former Member Eyes a Comeback

Top-tier altcoins posted a comprehensive pullback against the US dollar, although these losses were minor. Outside the top 10, however, prices saw much more action, and one former member is knocking on the top 10-club’s door.

Altcoin Price Chart

The Ripple price, Bitcoin Cash price, and Litecoin price each posted one percent declines and are currently trading at $0.89, $1,274, and $206, respectively.

EOS, NEO, and Cardano, meanwhile, made single-day retreats of about three percent, forcing their prices down to respective values of $8.18, $125, and $0.28.

Stellar posted a top 10-worst four percent decline, while IOTA rounded out the top 10 with a two percent dip to $1.93.

However, IOTA may not hold that position for much longer. Privacy-centric cryptocurrency Monero achieved a seven percent gain for the day — better than any top 10-coin — and it currently sits in 11th with a $5 billion market cap, meaning it needs just an eight percent increase relative to IOTA to reclaim a spot in the top 10.

Featured image from Shutterstock.

Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at CCN, where he focuses on financial markets. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.