The cryptocurrency market has witnessed so much improvement in the past weekend, with most of the leading 20 coins by market capitalization recording tremendous growth. Bitcoin Cash has spiked nearly 21% over the weekend.
A Sharp Growth
At the moment, Bitcoin Cash is ranked as the fourth virtual coin in terms of market capitalization. It has demonstrated a sharp growth from $473 at the start of the day’s business to a high of $547.83, which it currently sits at. At some point on Sunday 4th November 2018, the price of BCH hit $573, which was the highest trading point of the virtual coin over the past one month.
The upward trend was first witnessed on the 2nd day of November and it spent the better part of the week trading at $420. In the past one week, Bitcoin Cash has been up around 30%. This has occurred in the wake of an announcement recently made by the current second largest international cryptocurrency trading platform, Binance. In the announcement, the crypto exchange body made it clear that it would support the planned hard fork for Bitcoin Cash.
Influx Of Gains Apart From The Leading Crypto
Whereas a number of the leading cryptocurrencies have witnessed an influx of gains over the past few months, Bitcoin Core is one among the few coins that have suffered losses towards the close of businesses over the weekend. Bitcoin, which is still ranked as the leading virtual coin has dropped by 0.4% and is currently trading at $6,406.50. the coin has dropped to around 2.2% over the past one week, and the dominance of this leading virtual asset on the market has slightly come down in the course of the trading period. It was initially trading at 53.3% to 52.5%, which it is currently at.
The second largest virtual coin in terms of the market cap is Ethereum and has grown by nearly 1.5% over the past 24 hours. At the moment, Ethereum is currently trading in the region of $203. Looking at its trading over the past one week, the coin has dropped to around 0.7%.
Ripple is not left behind, either. This third leading crypto based on its market cap has also witnessed tremendous growth. To be precise, the coin has grown by around 1.3% and is now trading at $0.46. the virtual coin has been balancing its weekly gains over the past one week, and 0.8% has been recorded.
Altcoins Record A Great Rebound
The total market capitalization of these altcoins has recorded a great rebound to close to $209 billion. Last week, the total cap of the cryptocurrency market fell to as low as $201 billion. There has been a sharp spike in daily trade volume from $10 billion recorded on the 3rd of November that amounted to $13 billion.
The other cryptos that closed the weekend with huge gains were Cardano, Litecoin, and Dash. All these coins are up more than 7% over the past one day and are now trading at $0.08, $55, and $166 respectively.