After the Bitcoin price tumbled at the start of February, falling from $10,000 to $6,000 in just a few days, it now seems to be recovering full steam ahead. After three consecutive days where the market showed small but still notable gains, today the recovery signs seem to be much more significant. The MVIS CryptoCompare top 100 index has risen 8.97% in the last 24 hours to 5,023.07.
Top 10
Nine of the top 10 coins by 24 hour volume have posted strong gains, ranging from 8.3 to 26.84%, in the last 24 hours, with LTC having the biggest gain of 26.84% and Ethereum Classic being the only top 10 coin that posted a loss of 1.22% in the last 24 hours.
Bitcoin Cash posted a gain of 9.94% in the last 24 hours and is currently sitting at $1,377. EOS showed a 10.88% gain to $9.99, while Tronix rose 8.3% to $0.047. Both NEO and DASH had a positive change of 10% in the last 24 hours, and are currently sitting at $123 and $689 respectively.
BTC
Coinbase is releasing a service for merchants to accept Bitcoin, Bitcoin Cash, Ethereum and Litecoin payments, and deposit them into their own digital wallets, according to a blog post by the company. The service requires just an email address and a phone number.
The actual product, called Coinbase Commerce, can be directly integrated into a merchant’s checkout flow or added as a payment option on an e-commerce platform. Shopify, which was already accepting Bitcoin payments, is one of the first platforms to start using the service, Coinbase said. Other merchants already taking cryptocurrencies are Overstock.com, Expedia Inc. and Microsoft Corp.
At the time of writing, the Bitcoin price is sitting at $9,934 representing a gain of 12.8% in the last 24 hours. More than $1.3B worth of BTC were exchanged in the BTC/USD market representing a 26% share of global daily volume. The BTC/JPY pair represents a 48% share.
LTC
One of the major reasons for Litecoins recent gain during this period can be attributed to the announcement of Litepay lunch which is scheduled for release on February 26.
The Litecoin price has risen 26.8% over the past 24 hours and is currently sitting at $229, with over $600M worth of LTC exchanged in the past 24 hours on the LTC/USD pair which has a 28% market share of the global daily trading volume.
ETH
The Ethereum price has risen 9.7% over the past 24 hours and is currently sitting at $942, with over $500M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 28.5% market share of the global daily trading volume.
XRP
Western Union, the world’s largest money transfer service, has revealed that it is conducting a blockchain-based payments trial with Ripple. Western Union CFO, Raj Agrawal, confirmed the long-rumored partnership during an interview with Bloomberg, stating that the company was “testing the efficiency of blockchain transactions.”
The Ripple price has risen 11.8% over the past 24 hours and is currently sitting at $1.13, with over $220M worth of XRP exchanged in the past 24 hours on the XRP/USD pair which has a 22% market share of the global daily trading volume.
