Crypto markets experience more growth as BTC hovers near $9,000, having broken the psychological price point already once today
BTC is currently trading at around $8,977, having broken $9,000 earlier today, up almost 2 percent over a 24 hour period to press time. According to CoinMarketCap, BTC dominance is around 38.4 percent, down from a monthly high around 44 percent.
ETH is up over 5 percent over a 24 hour period, trading at around $637 at press time, a level it last hit on March 14.
Of the top ten coins on CoinMarketCap – which are all in the green today – Bitcoin Cash (BCH) and IOTA are up the most, up 9 and 10 percent on the day, respectively. BCH is trading for around $1,240, and IOTA around $2.08 at press time.
The total market capitalization of all cryptocurrencies is nearing $400 bln, currently around $397 bln as of press time. The last time total market cap reached this price point was in early March.
This weekend has seen some potentially good news for crypto regulation. In India, a crypto company has filed a claim against the Reserve Bank of India (RBI) for their earlier decision to end dealings with crypto-related entities, claiming the ban is unconstitutional. RBI has until May 24 to respond to a notice, then reportedly issued by the High Court of Delhi.
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Author: Molly Jane Zuckerman