Market Boom: The 10 Largest Cryptocurrencies Are All Up 8% Today

They say a rising tide lifts all boats.

Even as bitcoin surged above $1,500 late last night – and crossed the $1,600 on several exchanges this afternoon – the rest of the top 10 cryptocurrencies as listed by market capitalization have seen price increases of at least 8% today.

Ripple’s XRP token is emerging as the early winner, rising more than 40%, with an average price of about $0.079 across exchanges. Likewise, litecoin – which has already seen significant price rises in recent days ahead of an expected adoption of the scaling solution SegWit – is up about 22% on the day.

And ether, the cryptocurrency underlying the ethereum network, is up about 14%, at an average price of roughly $89 to reach an all-time high.

As reported by CoinDesk, the development comes amid a larger shift in the cryptocurrency markets that has seen an increasing diversification away from bitcoin. At press time, the Bitcoin Dominance Index, a measurement of the percent of the total market cap invested in bitcoin, had fallen below 60% for the first time in its history.

Still, analysts were largely short on comment when reached.


Read more ... source: CoinDesk

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