Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Post a bad start to the week, the cryptocurrency market is showing a modest recovery today with all of the top 20 cryptocurrencies in green.
The overall state of the cryptocurrency market seems to be in a good health today, March 6. Over the last 24 hours, the crypto market has added $6 billion to its overall market cap valuations. All of the top twenty digital currencies are currently in green with EOS and Litecoin showing double-digit percentage gains.
Bitcoin (BTC), which continues to dominate the crypto space shows a modest 3% gains. At the press time, Bitcoin is trading at $3903 with a market cap of $68.5 billion. At this point, Bitcoin is eyeing to overcome the $4000 resistance. The world’s largest cryptocurrency has quickly recovered its Monday losses.
On the other hand, Ethereum (ETH) has shown a significant 7.3% surge today. At the press time, Ethereum (ETH) is trading at $138.94 with a market cap of $14.7 billion. Just like Bitcoin, Ethereum too is making up for its Monday loses. Also, the cryptocurrency continues to maintain its second position.
The jump in the Ethereum price comes just at a time when Switzerland’s SIX stock exchange announced the launch of the Ethereum exchange-traded product (ETP). The Swiss stock exchange has launched this product in partnership with the Swiss crypto startup Anum AG.
In the top five list, XRP has the least percentage gains today. At the press time, XRP shows 2% gains trading at $0.31 with a market cap of $13.01 billion.
The Market Movers – EOS and Litecoin
EOS and Litecoin are the star performers of today with both showing double-digit percentage gains. At the press time, EOS has gained 11.27% in the last 24 hours and is trading at $3.76. EOS is strongly occupying its number 4 rank in terms of market cap. Also, the EOS market cap stands at $3.8 billion.
Over the last month, EOS has registered a massive 50% price surge. This Ethereum competitor has successfully ousted Bitcoin Cash from the top five and has been enjoying its number 4 position for quite some time now.
On the other hand, Litecoin (LTC) is not willing to give up the chase. At the press time, Litecoin is trading at $55.72, after a 16% price surge in the last 24-hours. Also, the Litecoin market cap currently stands at $3.3 billion keeping it at the number 5 spot. Over the last one month, Litecoin too has registered a massive 66% gains.
Post the top five, other cryptocurrencies in the top ten continue to show modest gains between 2-5%.
Tron (TRX), the number 10 cryptocurrency is showing 2% gains at the press time. Since the beginning of 2019, Tron is pretty much in news for all good things. In early January 2019, Tron launched the BitTorrent (BTT) token on the Tron blockchain network.
Last week, the Tron network had undergone the Odyssey 3.5 hard fork upgrade bringing some important changes to the platform. On Wednesday, March 5, Tron announced an important partnership with Tether to launch the USDT stablecoin with TRC20 compatibility on the Tron blockchain network ahead in Q2 2019.