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Bitcoin Price Holds Strong, Ethereum Reaches $600: Crypto Markets Brief

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Catherine Ross
·1 min read
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What Happened: Bitcoin price has been going steady, gaining 9.57% over a week. It traded at $18,334.95 at press time.

The leading altcoin Ethereum price has reached the $600 mark for the first time since July 2018. The digital coin gained 32.29% over the week and was traded at $605.

The current market capitalization of the crypto industry is $551,092,579,109.

Why It Matters: The crypto industry has seen major institutional players coming this quarter, more than in the previous one, according to a JPMorgan Chase & Co. (NYSE: JPMreport, as per CoinDesk.

The banking giant launched a blockchain unit called Onyx with a JPM Coin ready for commercial use in October, a crypto publication and research platform the Block has reported.

Paypal Holdings Inc (NASDAQ: PYPL)'s crypto payment and trading platform went live for US citizens on Nov. 12.

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