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Most of the top 20 cryptocurrencies are reporting discreet gains as bitcoin approaches the $5,250 mark.
Wednesday, April 17 — most of the top 20 cryptocurrencies are reporting discreet gains on the day by press time, as bitcoin (BTC) approaches the $5,250 mark.
Market visualization courtesy of Coin360
Bitcoin is up over two percent on the day, trading at around $5,242 by press time, according to CoinMarketCap. Looking at its weekly chart, the current price is also about 1% lower than the price at which bitcoin started the week.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $17.6 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13.9 billion by press time.
CoinMarketCap data shows that ETH’s value has grown just over 1% over the last 24 hours. At press time, ETH is trading around $167. On the week, the coin has also seen its value fall by over 7%.
Ethereum 7-day price chart. Source: CoinMarketCap
As Cointelegraph reported earlier today, the Enterprise Ethereum Alliance has launched a blockchain-neutral Token Taxonomy Initiative in partnership with major firms, including Accenture and JPMorgan Chase.
The price of the second-largest altcoin, XRP, has gained a more solid 3% over the 24 hours to press time and is currently trading at around $0.332. Looking at the coin’s weekly chart, however, its current price is also nearly 7% lower than what it reported one week ago.
Ripple 7-day price chart. Source: CoinMarketCap
Among the top 20 cryptocurrencies, the only one reporting notable gains is Tezos (XTZ), which is up almost 10% at press time to trade at $1.22.
The total market cap of all cryptocurrencies is currently equivalent to $176.9 billion, which is over 3% lower than the value it reported a week ago.
In industry news, an official from the Romanian central bank recently stated that cryptocurrency will not replace fiat issued by central banks as it is not necessarily a currency.
In traditional markets, the United States stock market is seeing a slight downturn so far today, with the S&P 500 down 0.15% and Nasdaq down 0.02% to press time. The CBOE Volatility Index (VIX), on the other hand, has gained a solid 3.78% on the day to press time.
Major oil futures and indexes are showing mixed movements today, with WTI Crude down 0.19%, Brent Crude down 0.22% and Mars US up 0.96% to press time. Opec Basket is also down 0.14% and the Canadian Crude Index has lost 0.37% in the 24 hours to press time, according to OilPrices.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.