Despite other coins like the Ethereum and the Ripple giving tough competition to Bitcoin, the latter continues to hold the flagstaff in the cryptocurrency market. In fact, it is said to have registered solid growth as well.
According to reports, BTC is rallying at $4904 at press time. It had initially broken ground at $4,500 for the first time in the year. Meanwhile, the coin is said to have gained 17.66 percent on the day, while its weekly gains are said to have surpassed the 20% mark.
Daily gains have been registered with all the cryptocurrency tokens like the Ethereum, which is the second largest digital coin by market capitalization. It is also seeing daily gains, up by 16% at press time. It is said that the altcoin is now rallying at $164.76, while the highest price on the day was $163.3.
Ripple (XRP) is also said to be rallying at jet speed and is said to have gained by 13% over the past 24 hours. It is said to be trading at $0.3523 at press time. The graph with which it is gaining momentum is, however, unstable. After perching at $0.348 in the middle of the day, Ripple dipped slightly and has achieved a gradual upturn, rallying at its present price. The fact that people are regaining faith in the cryptocurrency industry is evident from the fact that all the coins are in the green zone, reporting gains between 0.53 and 44 percent in the past 24 hours at press time. Among the top 10 gainers in the cryptocurrency market are Bitcoin, Bitcoin SV, and Litecoin. Out of which Bitcoin is up over 44 percent and is said to be trading around $242.70. Bitcoin SV is said to be rallying at around $87.56, while Litecoin has seen an increase by over 25 percent, rallying at $76.17.
The technology stocks have reached a record level, especially Netflix Inc, Facebook Inc., and Alphabet Inc, the Google parent. These companies have rebounded with about 23% upturn since December, which faced the Crypto winter. Meanwhile, Switzerland’s principal stock exchange, SIX listed an Exchange Traded Product, which is XRP based and claimed that it is the first such product in the market. It was also reported earlier that the Dow Jones Industrial average had dipped for the first time in the last four sessions. It has now closed at 79.29 points lower and is rallying at 26,179.13. While S&P 500 ended at 2,867. 24.