The cryptocurrency markets continued their steady advance on Monday, with the majority of top 100-coins and tokens rising against the value of the US dollar — and none declining more than 10 percent. The day’s top performer was the Ripple price, which rose 17 percent to once again break past dollar parity, though several other cryptocurrencies posted strong gains as well.
Altogether, the cryptocurrency market cap rose approximately $15 billion to $470.7 billion. This represents a single-day increase of more than three percent.
The Bitcoin price did not quite keep pace with the index on Monday, but the flagship cryptocurrency still rose about two-and-a-half percent to $11,489 on cryptocurrency exchange Bitfinex. Bitcoin now has a $194.2 billion market cap, which represents a seven-day increase of more than 16 percent and translates into a 41.3 percent market share.
The Ethereum price joined Bitcoin in lagging the index, though it still managed to rise a bit less than two percent. Ethereum is currently trading at $862 on Bitfinex, which translates into an $84.7 billion market cap. Notably, Ethereum’s market share currently sits at just 18 percent, representing a seven-day decline of about 1.5 percent.
The altcoin markets made a general advance, and nine of the 10 largest cryptocurrencies achieved gains against the dollar. No coin, however, could keep pace with Ripple’s XRP token.
The Ripple price rose just under 17 percent on Monday, which bested every other cryptocurrency in the top 100 — a rare feat for a large-cap token like XRP. This bullish pivot enabled the Ripple price to climb to a present value of $1.04 on Bitstamp, providing XRP with a $21.7 billion market cap.
Fourth-ranked Bitcoin Cash managed to climb by three percent, bringing its present value to $1,278, while Litecoin’s index-lagging one-and-a-half percent gain left the LTC price at $211.
EOS’s five percent increase was among the large-cap index’s stronger performances, and Cardano’s three percent gain tracked the market’s general movement.
NEO, ranked eighth, was the lone top 10-cryptocurrency to fall against USD on Monday, and its price dipped two percent to $117.
Stellar’s 11 percent rally helped mitigate its disappointing performance from the previous week, and XLM is currently priced at a global average of $0.38.
Monero, having recently supplanted IOTA for the 10th spot in the market cap rankings, climbed by eight percent to $367 and currently has a circulating market cap of $5.8 billion.
Featured image from Shutterstock.
Last modified: March 4, 2021 5:05 PM