Crypto Today: Bitcoin treads water near $15K, Ripple's rally loses momentum
- Bitcoin remains directionless for the second straight day.
- Ripple reaches an all-time high before losing its momentum.
- TRON's market cap surpasses Dash and IOTA.
For the second day in a row, the BTC/USD pair is having a difficult time finding direction as alt cryptocurrencies remain on investors' focus. Nonetheless, the pair was able to make a modest recovery and was last seen trading at $15,317, up 1.85% on the day.
Ripple (XRP) on Thursday extended its rally to a new all-time high at $3.84 and retraced a portion of its gains as investors started to take their profits off the table. "Cofounder and former CEO Chris Larsen, who stepped down in November 2016 and now serves as executive chairman of Ripple, has 5.19 billion XRP in his personal holdings and a 17% stake in the company, according to sources at Ripple," Forbes earlier this week reported. With today's upsurge, Larsen broke into the top five of richest Americans. According to the latest available data on coinmarketcap.com, the XRP/USD is up 7.55% at $3.37.
Meanwhile, TRON, which is described by cointelegraph.com as a Blockchain-based protocol for the entertainment industry -- a platform for content distribution in which TRON’s native token, TRX, is circulated, added more than 100% in USD terms on Thursday. On Tuesday, Justin Sun, TRON's CEO, announced that they were looking into forming partnerships with Nasdaq listed companies which would bring in more than 100 million users. Mr. Sun on Thursday tweeted out, "we will announce our partnership with a very prestigious public listed company next week. Looking forward to it!" and fueled today's rally.
As of writing, the total market cap of TRON was $12.6 billion, putting it in the ninth place in terms of market dominance above IOTA. The total market cap of all cryptocurrencies on Thursday reached yet another record high of $774 billion.