Welcome back to our top 5 at 5 cryptocurrency price update.
Cryptocurrencies have been given a boost over George Soros’ entry as futures soar. Bitcoin has recovered overnight after a dismal day yesterday amid reports that bankrupt Japanese exchange MT Gox dumped 16,000 coins. Bitcoin is now sitting back above the $9k mark and the top 10 have followed suit. Over in Chicago, the cryptocurrency space was boosted by the highest daily volume for bitcoin futures trading since their introduction at the CBOE five months ago.
At the time of writing Bitcoin stands at $9,232.50 up 4.45%.
Bitcoin Cash, the best performer last week has seen a 5.30% rise to $1,401.00.
Ripple has also recovered ground after suffering a mini flash crash on Wednesday which saw the price drop to $0.49. Ripple is currently priced at $ 0.84 up 3.69% so far today.
Ethereum at 17:00 GMT stands at $ 673.88 up 6.80%.
EOS surpassed Litecoin to take the 5th spot last week and is still going strong, despite the top four falling yesterday EOS has shrugged off selling pressure and is currently today’s biggest gainer. As of April 27, 2018, the value of EOS stands at $ 17.01 up 17.47%.
Bitcoin frenzy settles down as big players muscle into market
The theory that bigger institutions will make bitcoin markets less volatile and more liquid has grown as new OTC exchanges spring up, carrying names such as Circle, Octagon Strategy, Cumberland and Kraken.
Digital exchange Gemini’s new block trading product allows high-volume trades that will be invisible to other traders until the orders are filled.