Ethereum’s price made the headlines on Tuesday as news of it hitting a new all-time high circulated the web. On the other hand, Bitcoin’s market share dropped below 50 percent for the first time in over a month.
From $19,130 on Monday to $18,191 on Tuesday morning, bitcoin’s price declined by nearly $1000. A 5 percent decline was observed within 24 hours which reduced bitcoin’s market cap to $304.7 billion. While the reason is still unsure, it is observed that the global average bitcoin price has hit $20,000 in several instances unlike the BTC/USD in major exchanges such as Bitfinex and Bitstamp.
Ethereum Takes the Crypto-Verse by A Storm:
As for Ethereum, it had been hovering around $300 for quite some time while Bitcoin was surging. But, the cryptocurrency took December by a storm and ripped the charts by surpassing $800, first touching at $882 then finally settling at $824. Showing a 24-hour gain of 12 percent, with a market cap of $79.5 billion.
Bitcoin Cash Following Closely Behind at $2,500:
Ethereum was not the only altcoin to shine at bitcoin’s fall-out, bitcoin cash price showed an impressive rally of 21 percent. Enabling the altcoin market to rise by $25 million and making their combined valuation to touchdown at $300 billion for the very first time.
By Tuesday morning, bitcoin cash’s price had settled down to $2292 and a $38.7 billion market cap.
In addition, Ripple and Litecoin were also one of the lucky altcoins to benefit from bitcoin’s expense by experiencing an increase of four percent and seven percent respectively. Ripple’s market share now lying at $30.5 billion and Litecoin’s at $18.7 billion.
Surprisingly, besides Bitcoin, the rest of these altcoins had experienced a great rally on Tuesday. While none of them have actually been successful enough to throw off the biggest cryptocurrency, they’re set out to be great competitors.