Crypto Market Recovering Bit by Bit, Making Some Gains

By Sumedha Bose

A recovery is on the charts. The crypto market is mostly seeing green today after a period of low. According to CoinMarketCap data, around 17 out of the 20 cryptos are in the green. Yesterday, Bitcoin had dropped below $6,500 but has thankfully risen by 1.6 percent over the past 24 hours, and is trading $6554 at press time..

Moving on to Ethereum (ETH) it is enjoying the most gains out of all the other cryptos. Currently trading $223, it went up 6.7 percent since yesterday. It has dropped a massive low at $169 on 12th September but is making a fast recovery.

Just yesterday, Tim Draper, the famous Bitcoin evangelist and Silicon Valley Venture Capitalist had predicted that the entire cryptocurrency market cap will hit $80 trillion in the next 15 years. Considering the total market cap is hovering around the $200 billion mark, what Draper said might just be a reality in another 15 years.

Tezos (XTZ) saw some huge gains, primarily because their mainnet is all set to launch on 17th September. XTZ is currently trading at $1.68 at press time, and is up 26.4 percent over the past 24 hours.

Among all the gains, Litecoin (LTC) and Monero (XMR) have also had some good fortune. Litecoin is up 5.2 percent, currently trading at $57 at press time, whereas Monero is up 5.8 percent and is trading at $120, press time.

One of the few cryptos that witnessed a loss was Dogecoin (DOGE). It is down 0.6 percent and trading at $0.006148 at press time.

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