Crypto markets continue to increase – mysterious giant order behind the rise

Crypto markets continue to increase – mysterious giant order behind the rise.

Image source: Shutterstock / Trijo News

Christian Ploog

christian.ploog@trijo.co

The big rise in the bitcoin price on Tuesday may have been due to a single giant order worth about $100 million which was laid by an anonymous buyer.

The crypto markets have continued to soar over the last 24 hours. At present, around 88 of the 100 biggest cryptocurrencies show green numbers.

Over the last 24 hours, the market cap of all cryptocurrencies has risen by almost $13 billion – from $159.6 billion yesterday to $172.4 billion today.

Mysterious giant order behind the rise

The upturns started on Tuesday when bitcoin rallied over 15 percent in a short time. According to Oliver von Landsberg-Sadie, CEO of the crypto firm BCB Group, the rise was due to a single giant order worth about $100 million placed by an anonymous buyer on the crypto exchanges Coinbase, Kraken and Bitstamp.

“There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC”, he said to Reuters.

Bitcoin cash rallies 40 percent

In the last 24 hours, the biggest cryptocurrencies have continued to rise in price. The world’s currently sixth biggest cryptocurrency bitcoin cash (+39,11%) has increased the most. However, litecoin (+19,67%), eos (+11,58%) and ethereum (+10,17%) also show double-digit increases in the last 24 hours.

The world’s biggest cryptocurrency bitcoin is currently trading at $4,941, which is around $288 higher than yesterday.

The cryptocurrencies on top 100 that performed the best during the last 24 hours were augur (+43,61%) and bitcoin cash (+39,11%), and the ones that performed the worst were ravencoin (-6,28%) and maker (-2,91%).

Asset: Price: % (24h)*
Bitcoin $4 941,78 +5,84%
Ethereum $166,36 +10,17%
Xrp $0,348826 +5,48%
Litecoin $80,08 +19,67%
Eos $5,08 +11,58%

*All numbers in this article comes from Coinmarketcap.com.

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