Bitcoin Hovering Under $12,000 in Recent Surge, Major Altcoins See Green

Tuesday, July 30 — The number one cryptocurrency, Bitcoin (BTC), appears to have stabilized shy of $12,000 after quickly retaking $11,000 in a rally this weekend. Ether (ETH) and XRP are seeing slight gains at press time.

Market visualization. Source: Coin360

Bitcoin is trading around $11,700 at press time, with a 3.3% gain on the day. Bitcoin shot up quickly to over $11,500 within about four hours on Sunday, Aug. 4, subsequently reaching $11,800 on Aug. 5, but has subsequently settled a little lower at press time. 

Bitcoin 7-day price chart. Source: Coin360

The number two cryptocurrency, Ether, has seen mild gains on the day, currently trading at over $229.29 with a 1.38% gain on the day. On the week, the coin is up by over 10%.

As previously reported by Cointelegraph, the institutional cryptocurrency exchange San Francisco Open Exchange recently suggested that Ether may be close to losing its status as an altcoin, since its price is more correlated to Bitcoin’s than any other token.

Ether 7-day price chart. Source: Coin360

XRP, the third-largest crypto, has mostly been trading sideways. At press time, XRP is trading a bit over $0.320 and is trending up by 0.77%. 

Last week, XRP’s issuing company Ripple sent an open letter to the United States Congress, encouraging lawmakers to differentiate between different crypto assets and their associated entities when developing regulatory policy.

XRP 7-day price chart. Source: Coin360

Monero (XMR) is seeing the most gains on the day among the top-20 altcoins, trading at $94.40, up almost 5% on the day.

Following listings on eToro and Coinbase Pro, Tezos’ (XTZ) price rallied up over 40% on the week. The coin has since cooled and is trading sideways, down 0.06% on the day and trading at $1.45. 

Tezos 7-day chart. Source: Coin360

The total market capitalization of the top 100 cryptocurrencies is over $303 billion at press time, according to data provided by Coin360’s summary table.