Crypto Market Explodes In Weekend Trading

The global cryptocurrency markets recorded massive gains during the weekend as investors sought to continue trading activity after the closure of the stock markets.

The flagship cryptocurrency, Bitcoin, surged past $61,000 for the first time since March 13 after regaining its mid-week losses yesterday and is now holding firmly above $60,000, according to data from coinmarketcap.com.

Ether broke out to a new all-time high of $2,197 in early Saturday trading, before easing to $2,155 as of report time. The token is now up over 189 percent year-to-date, outperforming bitcoin’s 106 percent returns.

Ripple’s XRP was today’s top gainer as it blew up 35 percent today to record a 116 percent gain in the past one week, bringing the controversial token up by a whopping 476 percent year-to-date at $1.36 as of press time.

Stellar’s XLM also extended its rally to be the second top gainer today as it soared over 20 percent to register an over 325 percent year-to-date gain.

Although it is still unclear if there’s causation, the price action comes just days before leading U.S. exchange Coinbase begins trading on Nasdaq in one of the crypto industry’s most anticipated events. A sign of the maturing market, the listing will likely give Wall Street traders their most accessible bet yet on growth in the space.

Source: Allnews.ng