The majority of top cryptocurrencies are picking up enough to showcase average to noteworthy gains as of press time on May 19. Bitcoin (BTC) has already surged to just under the $8,000 mark once more. The rebound arrives after a stinging correction days earlier that came on the heels of a week of astounding growth.
According to CoinMarketCap, Bitcoin is almost eight percent higher on the day and was trading at $7,928 by press time. CoinMarketCap’s weekly chart showed that the crypto was up to 11%.
A dedicated analysis of the phenomenon revealed that numbers published by Luke Dashjr, bitcoin’s main developer, had most of the full nodes in the BTC network as currently running on client software that’s susceptible to an inflation virus uncovered in September 2018.
Ether remains steady
Meanwhile, Ether (ETH) remains steady in its place as the biggest altcoin via market cap and presently holds at $27 billion. XRP, the next in line, holds a market cap of about $16.9 billion. Data also showed that ETH had an increase of more than seven percent in the previous day. ETH was trading at about $254 as of press time while the coin’s value showed a boost of more than 35%.
XRP also went up by seven percent in the past 24 hours and is now holding at $0.40. The coin was up by 28% on the week.
Dash and Bitcoin Cash
Among the top cryptos, only dash (DASH) and bitcoin cash (BCH) achieved a two-digit hike. The two currencies are up by 10% and 13% respectively.
At present, the total capitalization of all cryptos stands at $247.8 billion. That’s an 18% higher value than what was reported last week.