Bitcoin (BTC) and the rest of the digital currencies in the market have been trading sideways over the past few days. The digital currency market recently saw a sharp price surge. Bitcoin (BTC) surged over the $4,100 level in less than a day. It also carried the rest of the crypto market along. Ethereum (ETH) also surged higher. The sharp increase in the value of Ethereum (ETH) also helped it to reclaim its position as the second largest digital currency in the world.
Over the past year, the crypto market has been under the influence of the bears. A bear market that has seen Bitcoin (BTC) and other digital currencies plunge by more than 80 percent. During the massive bull run in late 2017, Bitcoin (BTC) and the altcoin market tested their all-time high. Bitcoin (BTC) surged towards the $20k level while other coins such as XRP saw massive gains of about 3,000 percent all through the year.
The Crypto Market Sees Minor Losses this Weekend
On the 2nd of March, the top twenty digital currencies in the market were in the red. They were all posting medium to minor losses. Bitcoin (BTC) traded around the $3,800 mark all through the day. However, at the press time, the majority of the top twenty coins are now in the green.
Bitcoin (BTC) Price Today – BTC / USD
At the time of writing, Bitcoin (BTC) is changing hands at $3,916 after an increase of less than one percent over the past twenty-four hours. The current market cap of the world’s largest digital currency is $67.21 billion. The trading volume of Bitcoin (BTC) over the past day is $6.77 billion. On the weekly chart of the coin, it is down by more than 7 percent. Bitcoin (BTC) started the week at the $4,140 level, and it’s now trading 7 percent below that level.
On the other hand, Ethereum (ETH) is fighting really hard to maintain its position as the second largest digital currency in the world. By market cap, Ethereum (ETH) is the largest altcoin in the market. At the time of writing, Ethereum (ETH) is changing hands at $137 after a decrease of less than one percent over the past twenty-four hours. The digital currency currently boasts of a market cap of $14.06 billion. Its trading volume over the past day is $3.37 billion. On its weekly chart, ether is down by more than 15 percent. The digital currency started the week at $157, but it now trades at $137.
The St. Petersburg hard fork and Constantinople of Ethereum went live this week. The upgrade was activated on the blockchain at block #7,280,000. Constantinople is an upgrade the crypto space has been waiting for quite some time now. The upgrade is meant to greatly enhance the blockchain of Ethereum and introduce some improvements.
Many expected the upgrade to have a significant impact on the value of the digital currency. However, Ethereum (ETH) responded poorly to upgrade. The value of Ethereum (ETH) did not surge higher upon the activation of the upgrade, leaving many disappointed.
XRP (XRP) Price Today – XRP / USD
XRP, which started this week on a high note, is now down in the red. The third largest digital currency in the world is now trading at $0.3206 after a decrease of about half a percent over the past twenty-four hours. The current market cap of the digital currency is $12.98 billion. XRP is down by about 5 percent over the past week, as it started the week with $0.331.