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The Litecoin price today hit a record high, as heavy South Korean trading fueled the rally and pushed Litecoin – at its highest point – to more than 36% gains in a week.
Meanwhile, the price of Ripple added another 12.36% and hovered just below Bitcoin Cash as the fourth-largest cryptocurrency by market capitalization.
The total market capitalization of the global cryptocurrency market hit $159.8 billion on Monday, as investors continue to pour capital into ICOs, Bitcoin, and other positions.
Below is a recap of the top cryptocurrency prices at 2:00 p.m. EDT.
Bitcoin: $4,385.81, +0.29%
Ethereum: $343.23, +1.29%
Bitcoin Cash: $597.70, -3.69%
Ripple: $0.2277, +12.63%
Litecoin: $63.48, +1.76
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Bitcoin Prices Flat Today
The price of Bitcoin surpassed $4,500 over the weekend before a small retreat. While the price nearly topped an all-time high, there are still concerns about a rift between the proponents of Bitcoin Core and SegWit2x.
This battle could fuel another hard fork in November.
Bitcoin Cash Hovers Near $600
Bitcoin Cash has rebounded slightly after a seven-day decline led some investors to buy on weakness. The month-old cryptocurrency, which emerged during Bitcoin's hard fork on Aug. 1, 2017, was able to hold its level as the third-largest cryptocurrency by market capitalization.
Ethereum Prices Pushing Toward $350
Ethereum prices are now about $68 from its all-time record of $411, which it hit in June. Traders are keeping a close eye on plans for the upcoming Metropolis hard fork, which will take place by the end of September in two separate events.
Despite the uptick, there are many security challenges ahead. According to Fortune, thieves have stolen roughly $225 million in the cryptocurrency this year alone.
Ripple Prices Jump Double Digits on Monday
Ripple continued to roar on Monday, as South Korean purchases sent prices for the cryptocurrency higher.
Top 5 Cryptocurrencies to Invest in Today
The price has moved higher thanks to increased optimism that it will benefit from greater transparency, government regulation, and increased banking relationships in Asia.
Litecoin Prices Flat Despite Bullish Note
Litecoin hit a new all-time high after weeks of flat trading.
The cryptocurrency passed $60 per coin and topped a market capitalization of $3 billion over the weekend. Litecoin has now gained more than 1,300% since September 2016.
The weekend's momentum was driven by heavy buying in South Korea, although there wasn't a clear reason why it has been pushing higher.
It is possible that investors are looking for greater stability in the wake of many hit-or-miss ICOs in recent months.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.