Almost all The Top 100 Crypto Currencies Are Gaining: Here’s Why

Data gleaned from Coin360 shows that crypto markets are gaining each day, with 97 of the top 100 cryptocurrencies solidly growing each day.

The leader of the pack is Bitcoin, which has climbed steadily over the $7,000 mark over the past two days, which has seen a 0.96 percent in gains in just 24 hours, as shown on CoinMarketCap. At the time of press, Bitcoin is trading at about $7,226.15, which is a 7.68 percent gain in 7 days.

Bitcoin broke the $7,000 point for the second time in a week, following news from the U.S Commodity Futures Trading Commission that reported a decline in bearish positions for the Bitcoin futures contracts.

It is closely followed by Ethereum that is trading at $292.12 at the time we went to press, a 6.07 percent increase over the past seven days. Ethereum rose to nearly the $300 mark but went down a notch to trade at $292, though it is facing almost 29 percent in losses in a month.

The total market capitalization of all the currencies is at $235 billion, down from a $238 billion point that was a first since 9th August. The capitalization is continuing to grow, recording a slight spike during the time we went to press.

Of the top 25 cryptocurrencies, the Dogecoin recorded the highest gain in the past seven days, recording a gain of 110 percent, though it recorded a loss of 23.1 percent in 24 hours. At the time of going to press, Doge has a market cap of $583,642 and is ranked at position 22 on the list.

The meteoric rise in Doge is attributed to impending infrastructure development for a project termed Dogethereum, a demo that is set to run on September 5. The project is a smart contract that will allow users to move Dogecoins to Ethereum and back.

Among the top ten coins, the IOTA and EOS have seen the biggest rise, recording 30.79 and 30.14 percent respectively.

The wave of growth has been noticed due to the reports that suggest that the Chicago Board Options Exchange is planning to list Ethereum by the end of this year.

Additionally, earlier this week it was reported that Yahoo Finance was listing buy and sell options for major cryptocurrencies on the website. The new service has been confirmed to be available on the iOS app exclusively, and users will trade major cryptocurrencies including Bitcoin, Ethereum, Dogecoin and Litecoin via an integrated 3rd-party service.

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