Cryptocurrency prices have begun the week on a positive note, as bullish sentiment returned to the market following an underwhelming reaction to the Consensus blockchain summit.
Crypto Prices Rally
Bitcoin and the broader altcoin universe booked solid gains Monday. The combined value of all cryptocurrencies peaked at $392 billion, according to CoinMarketCap. At time time of writing, the total market cap was worth $389.6 billion.
Prices bottomed near $361 billion on Thursday, their lowest level of the month, in the wake of a high-profile blockchain event.
The ten largest cryptocurrencies by market cap rose by at least 3% on Monday. Tron was the biggest gainer percentage-wise, adding 12.7% to $0.077. Bitcoin cash (BCH) jumped 8.1% to $1,275 following a double-digit selloff last week. Cardano and Stellar each rose more than 4%.
Bitcoin rose 3.1% to $8,493. Its share of the overall market slipped to 37.2% from a high of around 37.6% last week.
Trade volumes have been relatively thin over the past 24 hours, with turnover amounting to $16.8 billion. Crypto trade volumes averaged around $21 billion at the end of last week. During the height of the bull rally earlier this month, daily turnover exceeded $30 billion.