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Broad-based crypto rally adds $8 billion to value of all coins

January 2, 2019

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Cryptocurrency prices are trading higher on Wednesday, with all major coins showing solid gains in early trading.

A single bitcoin, BTCUSD, +2.95% the best-known cryptocurrency, was last fetching $3,832.60, up 3% since Tuesday at 5 p.m. Eastern Time on the Kraken cryptocurrency exchange.

The broad-based crypto rally has added $8 billion to the total value of all cryptocurrencies over the past 24 hours.

What are the analysts saying

After a tumultuous 2018 for the crypto industry, Anthony Pompliano, founder and chief executive of Morgan Creek Digital, said the potential for further declines in crypto-asset prices means pressure on exchanges to adapt will mount.

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