August 7, 12:48 pm 0
Bitcoin’s price rose by almost $200 today, up from around $Three,250 to reach a fresh all-time high of $Trio,440 after rising by some $600 yesterday from $Two,800 to $Trio,300.
Trading volumes during the past 24 hours remain at $1.Two billion, while the market cap has risen to $56 billion, and all-time high.
Bitcoin’s price leaps for the 2nd time.
Much of the activity today is coming from the NEO/BTC pair at Bithumb, a fresh exchange that has bot rising following their friendly treatment of Bitcoin Contant.
The NEO/BTC pair has seemingly substituted South Korea’s Bithumb for very very first position. The latter treated some half a billion te bitcoin trading volume yesterday, but today is much lower, below $100 million.
Bitcoin’s current top trading pairs.
It may be the case therefore NEO, which has risen some 20% today, is somehow pushing bitcoin’s price up, through arbitrage or other means.
Not least because the combined market cap of both Bitcoin and Bitcoin Contant has now reached a fresh high of above $Trio,700, up $200 from their previous high of $Trio,511.
Fresh value, therefore, is coming into the system, with most digital currencies up today, including ethereum which rose again from $250 to $270.
Ethereum’s price act since their spring bull-run.
Ethereum’s trading volumes however have fallen, down to $1.1 billion from yesterday’s $1.Five billion, spil the currency now faces competition on many fronts, including bitcoin specie which has seen most of the gains today, up some 30%.
South Korea proceeds to be eth’s largest market, with trading volumes of almost $300 million just on Bithumb. While China has also risen, treating more than $100 million ter trading volumes just on OKCoin.
That suggests there is considerable rente ter eth, which has seen its market cap rise to $25 billion, but it still has some way to go towards reaching its all time high of $420.
Whether they’ll be able to do so ter this bull run remains to be seen, but the currency shows up to have now gone through their crimson July bear market, with bullishness seemingly returning all around the digital currencies space.