Crypto Market Mostly Green, Investors Happy

Crypto Market Mostly Green, Investors Happy

The crypto market has shown signs of growth today, August 22, with Bitcoin (BTC) increasing by 3.56 percent, being traded at 6684.88 USD. This rise in the price of BTC can be accredited to an important announcement about the ETF decision which is due on Thursday.

Source: TradingView

Altcoins have shown a great deal of improvement as well.

Ethereum (ETH) rose by 0.34 percent and is currently being traded at 284.75 USD. Earlier today, ETH was being traded at 295.74 USD, up from a low of 273.63 USD which it was met with yesterday.

Source: TradingView

XRP is up by 2 percent and is now being traded at 0.341523 USD. The reason behind the rise could be the CTO of Ripple, David Schwartz, who went on a live event which was organized by The Next Web (TNW). In the live event, he answered various questions asked by the users of the platform.

The questions asked from the Ripple CTO ranged from “How do you fold your socks,” and “Favourite snacks?” to “David, your thoughts on XRP being labeled a security, Should we expect a decision from SEC soon?” and “Where will Ripple and XRP stand 5 years from now?”

Also Read: Ripple CTO Defends XRP; Says its NOT a Security

Bitcoin Cash (BCH) showed a decent amount of increase as well. It recovered from its Tuesday dip and is now trading at 547.81 USD, a rise of 2.41 percent. A while earlier, the cryptocurrency had even crossed the 550 USD mark—something it was unable to do ever since the last week. This showed that the cryptocurrency was recovering well.

Revolut recently announced that 2.5 million of its users would now get a cashback of 0.1 percent to 1 percent when they buy Revolut’s new high-end Metallic Card. The cashbacks would be in the form of any of the available 25 fiat currencies as well as some of the cryptocurrencies such as Bitcoin Cash (BCH), Bitcoin (BTC), XRP, Ethereum (ETH), and Litecoin (LTC). This could be one of the reasons behind the increase in the prices of these cryptocurrencies.

EOS has recovered a lot as well. It is now trading at 5.05 USD, up by 3.59 percent perhaps because it has, once again, been ranked the #1 cryptocurrency by the Chinese government. This caused quite a stir in the EOS and the crypto community, in general, leading to an increase in the price of the cryptocurrency.

Source: TradingView

Stellar (XLM) also made substantial gains in the last 24 hours. It is up by 7.12 percent and is now trading at 0.231125 USD.

Source: TradingView

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.