The Bitcoin price rose by nearly 20% in the hours following the launch of futures contracts on the US financial market for Cboe. The affirmative action was in all markets, which allowed the mixed value of all cryptocurrencies grows by 13%.
Already on a downward slope, the cryptographic market peaked at 390.7 billion dollars that day. It continued to grow over the course of the day and eventually amounted to 442.8 billion dollars, placing the cryptocurrency ecosystem in the striking distance, surpassing the total valuation of the Berkshire Hathaway multinational holding, which is currently worth 484 billion dollars.
The Bitcoin price is approaching 17,000 USD as Futures Trade Up
Futures Bitcoin contracts have made the long-awaited debut on Sunday and perhaps to the surprise of many analysts, have been traded. January futures contracts increased by more than 2,000 USD to 17,500 USD, while futures in March were purchased at 19,330 USD.
Maybe, due to this upward view, the Bitcoin value has risen by about 19%, from 14,159 USD on Sunday to 16,738 USD a day. Bitcoin currently has a market cap of 280.1 billion dollars.
While it remains unclear what the Bitcoin futures will develop over the next month when CME launches contracts on the platform, and more merchants enter the market, most analysts believe that adjusted Bitcoin derivatives will have a positive effect on long-term cryptocurrency.
The Ethereum value recovers 460 USD
Also, Ethereum could not replicate Bitcoin’s vivacious move but managed to regain his 460 USD yore. For the day, the Ethereum value has risen by 4%, reaching a current value of 464 USD. And now Ethereum has a market cap of 44.7 billion dollars.
When Bitcoin dooms turn out to be an excellent investment vehicle, exchanges are expected to launch Ethereum derivatives shortly, a scenario that would turn out to be rising for the Ethereum price.
Altcoins rises against the dollar
Resumed by the Bitcoin’s wave, nearly every 100 top Altcoins raised against the dollar, allowing the roof to expand to about 163 billion dollars.
Bitcoin Cash went up by 7%, to 1,394 USD. IOTA’s price raised 2%, allowing it to stay longer than Ripple the top of the market rankings. Ripple, at the same time, joined with 5%, although this growth was not enough to raise the market ceiling of over 10 billion dollars.
Along with Bitcoin, the Litecoin price recorded the most impressive one-day performance amongst the top 10 coins. Litecoin price exploded by nearly 18%, reaching a current value of 161 USD. Last week, Litecoin value grew by almost 67%, and the market cap is rapidly approaching 9 billion dollars.
The seventh position increased by 5% to 713 USD, while 16% of Bitcoin Gold bull recovery ended the prolonged slide. Monero added 10%, dropping its market cap to break the 4 billion dollars mark. Also, NEM rounded the top 10 with a 15% increase to 0.427 USD.