The whole cryptocurrency market is currently registering gains after several days operating sideways. Bitcoin (BTC) is growing by 4.5% in the last 24 hours. Ethereum (ETH), Binance Coin (BNB) and Litecoin (LTC) are also registering gains.
Crypto Market Surges After Days Operating Sideways
All the top 30 digital currencies, with the exception of Basic Attention Token (BAT) are registering gains in the last 24 hours.
The largest winners are MakerDAO (MKR), growing 17.19%, Ethereum Classic (ETC) with 9.92% growth, and Chainlink (LINK) expanding 9.08%. Binance Coin price increase was among the highest as you can see.
Among the top 10, the biggest winners were BNB (8.69%), Bitcoin SV (BSV) (8.3%), and Ethereum (5.75%). XRP surged by 1.6%, Bitcoin Cash (BCH) by 3.43%, Litecoin by 4.08%, EOS by 2.07% and Stellar Lumens (XLM) by 2.58%.
The most popular cryptocurrency reached its highest price point since September 25 after falling from $10,200. Since that moment, Bitcoin was traded between $7,850 and $8,500.
At the same time, Bitcoin’s dominance fell to 66.7%, showing that altcoins are operating positively and strongly. Its dominance fell to the lowest point since the first week of August.
Since the beginning of the year, Bitcoin surged by 266% to its highest price this year ($13,750). As of today, Bitcoin grew by 128%.
At the time of writing this article, Bitcoin is being traded around $8,585 and it has a market capitalization of $154 billion.
BNB, LINK and MakerDAO
Binance Coin, Chainlink and MakerDAO have their own reasons to have spiked as much as they did in the last hours.
Binance has just announced a new P2P service for Chinese users that includes Bitcoin, Ethereum and Tether (USDT). This would help many investors in the country to have access to cryptocurrencies.
Meanwhile, announced a new Multi-Collateral DAI Token that is going to be launched as soon as on November 18, 2019.
— Maker (@MakerDAO) October 9, 2019
Finally, Chainlink has also been in the news due to different reasons. For example, the virtual currency is now working with SWIFT on its API based payment system.
Currently, LINK is being traded around $2.27 and it could eventually reach the 14th position in the market.
At the moment, Ripple and Stellar are working in order to offer banks and financial institutions with better services than SWIFT.