Crypto Market Update: Bitcoin, Ethereum Rise Amidst Exciting Developments

Current State of the Crypto Market

The crypto market is on a roll today, April 23! Despite a couple of minor dips, the excitement is palpable as Bitcoin (BTC) hovers near $9,000 after a steady two-week climb. Overall, the market cap has jumped to a dazzling 7-week high, leaving investors feeling particularly chipper. According to reports, BTC is trading at approximately $8,840—a 0.70 percent decline over the past 24 hours.

Ethereum and Its Slow But Steady Rise

Meanwhile, Ethereum (ETH) is holding its ground, up a slight 0.10 percent and currently priced around $636. It’s as if ETH is the tortoise in this race, taking its sweet time while BTC goes galloping ahead, poker-faced against slight fluctuations.

Bitcoin Cash’s Stunning Performance

Now let’s talk Bitcoin Cash (BCH), which is putting the other coins to shame! It’s jumping at an impressive rate of more than 12 percent in the last 24 hours. BCH is currently rocking around $1,400 and has seen a jaw-dropping 85 percent increase over the past week!

Key contributors to BCH’s rise include:
A scheduled hard fork on May 15, set to increase its maximum blocksize to 32MB.
Updates from crypto payment processor BitPay, enabling BCH acceptance on their Checkout app.

Market Capitalization Insights

The total market cap of cryptocurrencies hit $400 billion today, a milestone not seen since March 8. As the stakes rise, the crypto community is buzzing with anticipation. Currently, the market hovers around $399 billion—watch out for that last billion, folks!

Big Banks Join the Fray

This is the part where we take a serious turn! Goldman Sachs, after dodging crypto desk rumors, has confirmed hiring crypto trader Justin Schmidt to helm their digital assets markets. This could be an important step for them as they navigate the murky waters of cryptocurrency. Rumor has it that Barclays might follow suit in setting up a crypto trading desk as well.