Bitcoin Approaches $11,500 as Top Cryptos See Gains

Saturday, July 6 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as Bitcoin (BTC) hovers just under the $11,500 mark.

Market visualization courtesy of Coin360

Bitcoin is currently up by about three percent on the day, trading around $11,486 at press time, according to Coin360. Looking at its weekly chart, the coin is down by over 7.68%.

Bitcoin 7-day price chart. Source: Coin360

According to a recent report released by major cryptocurrency exchange Binance, bitcoin has become less correlated with other cryptos in Q2 2019 due to a potential “flight-to-quality” in the recent bull run.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $31.1 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.8 billion at press time.

Coin360 data shows that ETH has seen its value increase by over .67% over the last 24 hours. At press time, ETH is trading around $292. On the week, the coin has also lost about 5.82% of its value. 

Ether 7-day price chart. Source: Coin360

As Cointelegraph reported yesterday, ETH might decrease issuance ten-fold by 2021, said Justin Drake, an Ethereum 2.0 researcher at the Ethereum Foundation,

XRP is up by nearly 4% over the last 24 hours and is currently trading at around $0.399. On the week, the coin is down about 5.75%.

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the only coins reporting losses are Chainlink (LINK), which is nearly 4% down, LEO, nearly 2.3% down, and ATOM, over 1% down.

At press time, the total market capitalization of all cryptocurrencies is $327 billion, over 4.92% lower than the value it reported a week ago.