661 Bitcoin Purchase Sparks Crypto Rally, Ethereum Reclaims Top Spot Over XRP
A single buy order of 661 Bitcoin on crypto exchange Bitfinex triggered a 2.7% increase in the price of BTC in less than 30 minutes.
The trade, worth more than $2 million, was tracked on Reddit.
The big buy order helped spark a broader crypto rally.
At time of publishing, Bitcoin is up 3.5% in the last 24 hours at $3,873, according to CoinMarketCap. Ethereum (ETH) rallied more than 11%, pushing the platform’s market cap above XRP by about $700,000.
The price of ETH dropped to a low of about $83 last month. That, combined with an XRP rally, caused the two market caps to flip.
Ethereum has reclaimed its throne as the second most valuable cryptocurrency in the market, following a 80 percent increase in price in 30 days, from $83 to $150
— Joseph Young (@iamjosephyoung) January 2, 2019
The rest of the crypto market is also seeing green.
Litecoin and EOS are up more than 5%. Tron jumped 4%, with XRP and Bitcoin Cash up 3%.