Other major cryptocurrencies move following Bitcoin’s jump

on Apr3
by | Comments Off on Other major cryptocurrencies move following Bitcoin’s jump |

A photo illustration of the digital Cryptocurrency, Litecoin (LTC), Monero (XMR), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Dash are seen on September 13 2018 in Hong Kong, Hong Kong.

Yu Chun Christopher Wong | S3studio | Getty Images

A photo illustration of the digital Cryptocurrency, Litecoin (LTC), Monero (XMR), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Dash are seen on September 13 2018 in Hong Kong, Hong Kong.

Hot on the heels of bitcoin surging to multi-month highs, other major cryptocurrencies are also posting big moves upward.

As of 10:41 a.m. HK/SIN, the price of ethereum had surged 20.82 percent in 24 hours to $171.49, according to data from Coindesk. Ripple’s XRP token also skyrocketed 14.64 percent to approximately $0.359.

Ethereum and XRP are the second and third-largest cryptocurrencies by market capitalization, according to Coinmarketcap. While bitcoin has by far the largest market cap of any digital token, ethereum and XRP hold the second and third positions, respectively.

Data from Coinmarketcap also showed that more than $86 billion had been traded in the cryptocurrency space over the last 24 hours, as of 10:46 a.m. HK/SIN.

For its part, Bitcoin jumped more than 21 percent higher over 24 hours to $5,062.57, according to Coindesk.

One expert told CNBC on Tuesday that one potential catalyst behind the surge in bitcoin was likely tied to a Reuters report of a private buyer purchasing more than $100 million worth of bitcoin over a short period.



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