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Cryptocurrency Market Crosses $80 Billion As Ether, Bitcoin Prices Gain
The cryptocurrency markets were once again above $80bn on Tuesday after spending much of the weekend in the red.
By Pete Rizzo
Updated Sep 11, 2021, 1:32 p.m. Published Jul 18, 2017, 4:45 p.m. 1 min read
The cryptocurrency market continued to rebound on Tuesday, crossing the $80 billion-mark after a weekend that saw steep declines across the asset class.
Overall, the market reached a high of $84.9 billion today, up nearly 40% from a low of $61 billion this weekend.
At press time, all of the top 30 cryptocurrencies had posted 24-hour gains, according to data provider Coinmarketcap.
Leading the recovery were the ecosystem's three largest assets by market capitalization – bitcoin, ether and XRP, all of which were up more than 10% on the day's trading.
After dropping to below $2,000 this weekend, the price of bitcoin is now trading above $2,300, while ether notably crossed $200 for the first time since July 14.
At press time, the total value of the market was down just over 25% from an all-time high of $115 billion set in mid-June.
Arcade claw image via Shutterstock
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From May 20 to May 29, XRP funds took in $35 million while bitcoin and ether ETFs lost roughly $2 billion combined, with Ripple’s earlier reported XRP treasury plan still awaiting confirmation.
What to know:
- U.S.-listed spot XRP ETFs drew $11.88 million in net inflows on May 29, extending a week of gains even as bitcoin and ether funds saw continued redemptions.
- Total net assets in U.S. XRP ETFs now stand near $1.12 billion, with about $35 million added since May 20 while bitcoin and...
