Market Update 5.04.2018 – Ethereum Hits $800 As Bullish Momentum Continues

| Publish date: 05/04/2018

Market News

Ethereum Hits $800 As Bullish Momentum Continues

Over the past 24 hours, the altcoin has seen a relentless surge by around 11.67 percent, though Bitcoin and other top cryptocurrencies have also gained. This only proves that, for some reason, Ethereum is doing a great job, resulting in a price above $800.

Interestingly, Ethereum continues to gain on the number one digital currency Bitcoin, and it does with a relative ease. With another 5.31 percent increase in the ETH/BTC ratio, the altcoin hits a BTC value of 0.082. Whether or not Ethereum continues to achieve such ratio – or surpass it – at some point this year, remains to be seen at this moment.

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Mastercard’s First Quarter Drop Due to Low Crypto Purchases

Apparently, Mastercard’s first quarter growth was stained by a slight drop thanks to a huge decrease in the number of customers making cryptocurrency purchases. It is worth noting that consumers can use their Mastercard to acquire any digital currency, which is a practice deemed unacceptable by most financial entities. The multinational financial services company’s cross-border volumes are said to have increased by around 19 percent, but this figure decreased by 2 percentage points from the fourth quarter.

Mastercard CEO Ajay Banga highlighted some uncertainties in Asia, particularly in South Korea and Japan. He explained, however, that the digital asset is – and will never be – a major part of the company’s corporate strategy. This is due to the fact that it is quite difficult to predict the sector’s overall development.

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Telegram Dismisses ICO Plans, Reason Remains Unclear

Telegram initially announced its plan to proving an initial coin offering, but the company just recently cancelled all of its fundraising projects altogether. Meaning, regular customers will no longer be allowed to invest in the company in any form. This is expected to be a shocking revelation, considering that the company has managed to raise $1.7 billion.

The company’s plan to create a new infrastructure based on blockchain has not withered. This refers to the upcoming launching of Telegram Open Network, which will serve as a direct competitor to Mastercard and Visa. However, it did not provide any reason as to why its ICO plans have been cancelled.

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Total Market Cap: May 4

The volume of trade in the crypto market slightly jumped to $30.68 billion. The market’s capitalization also went up a little more to $457.06 billion.

Bitcoin Price Analysis: May 4

In the past 24 hours, Bitcoin slipped a notch by 3.82% to $9,694.50. The leading cryptocurrency’s trade volume sat at $9.68 billion, while its market slid to $164.94 billion compared yesterday.

Ethereum Price Analysis: May 3

As compared to yesterday, Ethereum’s price went high today at around 8.17% to trade at $801.05. The altcoin’s trading volume also managed to reach $3.98 billion; whereas its market capitalization hit $79.48 billion.

State of the Top 10 Cryptocurrencies: May 3

Most prices are a notched high today, but some have still fallen a bit. NEO has once again re-entered the top 10 list, as TRON fell at the 11th spot.x

  • Bitcoin’s market price jumped 3.74% to $9,700.84, and its value in the market is $165.06 billion.
  • Ethereum’s market price jumped 8.30 % to $803.63, and its value in the market is $79.74 billion.
  • Ripple’s market jumped 4.90% to $0.909043 and its value in the market is $35.61 billion.
  • Bitcoin Cash’s market jumped 1.00% to $1,519.67 and its value in the market is $26 billion.
  • EOS’s market price fell 4. 96% to $17.17 and its value in the market is $14.33 billion.
  • Cardano’s market price fell 4.44% to $0.359448, and its value in the market is $9.32 billion.
  • Litecoin’s market price jumped 4.53% to $163.23 and its value in the market is $9.20 billion.
  • Stellar’s market price fell 0.47% to $0.434152 and its value in the market is $8.06 billion.
  • IOTA’s market price fell 1.61% to $2.39 and its value in the market is $6.66 billion.
  • NEO re-entered the list, but its market price fell 1.56% to $84.81 and its value in the market is $5.51 billion.

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