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Monday, July 31, 2017

Bitcoin prices rise as Ether extends recent weakness

Bitcoin prices rise as Ether extends recent weakness

The price of digital currency bitcoin rose Friday, putting it on track for a modest weekly gain, while rival cryptocurrency Ether extended its recent weakness.

At latest check, a single bitcoin BTCUSD, +2.35%  was up 3.8% to $2,783.18, according to cryptocurrency research-and-data site Coindesk. While it remains down from an all-time high above $3,000 on June 11, its recent trend has been largely positive. It is on track for its second straight positive session, and it is up 3.3% over the past week.

The market capitalization of bitcoin rose to nearly $46 billion, meaning it once again accounts for more than half of the entire market cap for cryptocurrencies which stands at $89.9 billion, according to

This is the first time since May that bitcoin has represented 50% of all crypto assets, according to Tuur Demeester, a bitcoin investor who is also the founder of Adamant Research. Earlier this year, cryptocurrencies topped $100 billion in market capitalization.

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