After the price hike in Bitcoin on 29th of June of about $1100 which saw BTC breaching the mark of $6400, the entire market had a good weekend which very few reds. Reason for the spike in bitcoin trade can been linked with expiration of CME contracts. Money was diverted for buying which has resulted in this big spike.
There was a considerable upward trend in the market with most of the top coins showing good greens. Bitcoin Cash[BTC] was undoubtedly the biggest gainer which was a rise of more than 20% over the two days. Further gains are also expected on the preceding days.
Ethereum also showed strong gains, and was hovering on the $620 level, though it fell slightly back during the last few hours of Asian trading. But despite the slight dent there was a 10% gain seen over two days in bitcoin trade for Ethereum.
Litecoin also capitalized on the surge to end up at $124 mark. At one point of time EOS was showing gains of about $15 but in the wee hours of trading it declined below $14 mark. But despite the slight decline there was over 10% hike over the weekend.
Ripple showed positive signs of recovery with more than 10% gains to end up at $0.60 mark. According to Captain Altcoin, positive effect seems to be from the constant trickle of partnerships with XRP protocol with top banks. Trade volumes for Ripple were considerably lower than what was seen in the start of June, even Selfkey showed better trade volumes than XRP. But a lot of market experts believe that XRP is building the momentum and believe that July can potentially be a big month for XRP.
Currencies with smaller market cap also showed positive gains across the bitcoin trade spectrum. Stellar has already breached $0.30 mark is looking very strong. NEO was also up to $55 mark over the weekend.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]