Bitcoin Stalls, But ETH Soars In Tuesday Cryptocurrency Markets

Investing, News | January 9, 2018 By:

It’s a recovery day, as the cryptocurrency markets stabilized after a steep plunge to start the week. Bitcoin was essentially sideways, moving little off its $15,000 base, while most other coins had little action.

The outlier was ethereum. In what some are calling “ether madness,” ETH, the engine for the ethereum blockchain, was up more than nine percent this morning, breaching the $1,200 mark. This in a week when it was taken off the Bittrex exchange because of high gas prices and still faces issues with scaling and security.

The good news beyond the price, though, is that ETH has reclaimed its position as the second-largest cryptocurrency, surpassing Ripple XRP, which continues to sink after a huge price surge last week. That surge was driven by rumors of its imminent adoption by the Coinbase exchange, which was shot down by that service.

Bitcoin market highlights for the 24 hours ending January 9, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $15,404.60 on the Kraken exchange at 12:18 am today. Kraken saw $44,065,500 of bitcoin change hands.

The lowest price seen was $14,102.50 on Binance’s exchange at 9:06 am today. Binance’s 24 hour volume was $226,238,000.

The average price on the surveyed exchanges, as weighed by volume, was $14,999.24.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 43.1. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 12 different exchanges. It includes only BTC/USD trades and only on those exchanges that had at least 1% of the total volume of BTC/USD trades during the measurement period.