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The crypto comeback continued on Tuesday, adding about $12 billion to the total value of all cryptocurrencies. The bitcoin price led the charge, rallying 15% for the day. Ethereum, meanwhile, posted even more impressive gains; it surged by more than 20% to $200. Altogether, 14 of the top 15 coins experienced double-digit percentage price increases as the total cryptocurrency market cap swung back above the $80 billion mark.

bitcoin price

Chart from CoinMarketCap

At present, the total value of all cryptocurrencies is about $82 billion, nearly identical to where it was a week ago. Significantly, this represents a $22 billion increase since Sunday.

bitcoin price

Cryptocurrency Market Cap Chart from CoinMarketCap

Bitcoin Price Recovers From Dip

Earlier in July, the bitcoin price fell below the psychologically-important $2,500 milestone amidst uncertainty regarding network scaling proposals, setting off a downward trend that brought bitcoin as low as $1,843 on July 16. Since then, miners appear to have agreed on Segwit as a short-term solution, reducing the likelihood of a chain split and restoring investor confidence. Consequently, the bitcoin price has leaped out its rut, rising nearly 15% in the past day alone. Since Sunday’s low, the bitcoin price has risen by an astounding $492, rewarding investors who bought into the dip. Bitcoin’s market cap has now increased to $38.4 billion.

bitcoin price

Bitcoin Price Chart from CoinMarketCap

Ethereum Price Fights Back to $200

The ethereum price finally appears to have reached its stable floor, restoring certainty to the market following ethereum’s recent bull run and subsequent sell-off. On Tuesday, the ethereum price rose by more than 20%, edging past the $200 threshold to its current value of $202. Ethereum has now returned to where it was at before last week’s skid, giving it a market cap of about $18.9 billion.

ethereum price

Ethereum Price Chart from CoinMarketCap

The Great (Altcoin)Procession

The altcoin markets were a bloodbath last week, so they reaped significant benefits from Tuesday’s rally. Litecoin was the only top 15 coin to rise less than 10%, and more than half of the top 15 coins have now posted positive 7-day returns.


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ethereum price

Altcoin Price Chart from CoinMarketCap

The Ripple price led the advance, posting a 21% gain and bringing its market cap within striking distance of $7 billion.

ripple price

Ripple Price Chart from CoinMarketCap

The litecoin price was not as fortunate as other top altcoins, but it still rose a respectable 5.8% to about $44. Ethereum Classic, Dash, Monero, EOS, BitConnect, Zcash, and AntShares all saw 10% or better gains, but the real standouts were NEM, IOTA, Stratis, and Veritaseum.

The NEM Price increased 23%, restoring it to the $1 billion market cap club. The Stratis price rose 47% to $4.62, earning it the 10th place spot in the rankings. Veritaseum is equally as impressive, rising 49% to $195, although Stratis’ gain prevented it from cracking the top 10.

The IOTA price, meanwhile, is on an absolute tear. Yesterday, it rose 48%, which it followed up with a 24% gain today. The IOTA price is now about $0.30.

bitcoin price

IOTA Price Chart from CoinMarketCap

IOTA’s rebound comes amid several positive announcements. The platform has recently formed researched partnerships with prominent healthcare providers and universities to develop blockchain-based Internet of Things solutions.

Bitcoin Dominance Begins to Taper

Bitcoin dominance has begun to taper since it briefly crossed 50% on Sunday. Bitcoin currently boasts a 46.8% market share, a slight decrease from Monday.

bitcoin price

Chart from CoinMarketCap

Ethereum’s market share held steady at 22.8%, while litecoin’s has fallen below 3% to 2.8%. The real winner today was Ripple, whose market cap share increased almost 1% to 8.4%.

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Posted by Josiah Wilmoth

Josiah is a former ancient and medieval literature teacher. He has been writing about cryptocurrency since 2014, and his work has been cited in Business Insider, NPR, and Yahoo! Finance. He lives in rural North Carolina with his wife and son. Email him directly at josiah.wilmoth(at)cryptocoinsnews.com.