The total market cap of the world’s various cryptocurrencies reached its highest point in eleven months after bitcoin briefly climbed above the $9,400 mark.
Contributing to the top was, in addition to the high bitcoin price, that Ripple’s cryptocurrency xrp went up 9 percent. This followed Ripple entering into a new collaboration with the US money transfer giant Moneygram, which will use the company’s services to facilitate transfers between different currencies.
Xrp peaked at $0.46 and then stabilized around $0.44, at the time of writing, News BTC reports.
Peaked over $291 billion
Bitcoin’s rally and Ripple’s new collaboration are believed to have contributed to the total market value of the world’s cryptocurrencies peaking at just over $291 billion during the night to Tuesday.
Since then, it has dropped slightly, and at the time of writing it is about $281 billion, according to numbers from Coinmarketcap.
