Crypto Market Continues Recovery Led by Bitcoin’s $7,600 Breach

Jun 06, 2018 at 23:59

The market is taking time to reclaim its position after last month’s slump, but indications show that the value of the flagship cryptocurrency is slowly climbing up back at the $8,000 level.

Bitcoin breached $7,500 as it reached $7,617.83, up by 2.24 percent. Analysts noted that positive statements from Apple co-founder, Steve Wozniak on the likely future of the digital coin boosted its value.

Likewise, Ethereum gained as much as 2.6 percent over the last 24 hours, trekking at $605.67 as of this writing.

Meanwhile, other top altcoins have also made modest gains over the past 24 hours as EOS was up by 3 percent at $14.0445; Cardano increased by 3.09 percent at $0.2155; and Bitcoin Cash improved by 6.03 percent at $1,140.04.

On the other hand, Ripple is trading at $0.6720 as of this writing, a gain of 1.59 percent which may be attribute to Ripple Labs’ continued litigation with a former investor who alleged that the digital currency should have been registered as a security with the US Securities and Exchange Commission.

Total cryptocurrency market capitalization is currently at $344 billion, up by 8.18 percent from its intra-weekly low of $318 billion.