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Crypto Market Wrap: Bitcoin And Hard Forks Make Gains, Litecoin, EOS The Biggest Losers

After seeing a market-wide sharp fall on Thursday, cryptocurrencies have recovered at press time on Friday.

Bitcoin (BTC) broke below the $7,000 mark on Thursday afternoon at $6931.67 but has since bounced back by 1.36% over the last 24 hours at $7229.45.

The cryptocurrency’s most prominent hard forks, Bitcoin Cash (BCH) and Bitcoin SV (BSV), mimicked BTC’s trajectory.

BCH gained 2.15% at $206.57 and BSV gained 2.17% at $97.37.

Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, which completed its second hard fork in less than a month, traded largely unchanged at $129.57%.

Among the coins that lost most in the last 24 hours were EOS and Tezos.

EOS (EOS), the cryptocurrency backing the namesake blockchain platform, traded 1.02% lower at $2.55.

Tezos (XTZ), another blockchain platform with the distinction of using a proof-of-stake consensus mechanism, lost 4.52% at $1.29.

XRP (XRP), the third-biggest cryptocurrency backing the Ripple payment network, traded 0.53% lower at 19 cents.

The stablecoin Tether (USDT) traded 1.15% higher at $1.01.

BTC outperformed the rest of the coins, increasing its market hold to 68.44%. The second-largest cryptocurrency ETH accounted for about 7.37% of the total market capitalization.

© 2020 Benzinga does not provide investment advice. All rights reserved.

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