On Sunday, bitcoin and other cryptocurrencies rebounded after sharp declines during the week. After briefly rising over 3%, bitcoin rose 1% for the day, settling at $6,241. For the week, bitcoin is still down 13%, though it has risen 0.64% for the month. It is currently trading at more than $1,000 below its intraweek high of $7,391. Ethereum also rose on Sunday, briefly passing the $200 level before falling just below it at 194. This is the lowest it has traded since November of 2017. The digital currency has been particularly hard hit this month. While it earlier passed the $300 threshold, it is now down about 45% for the month and nearly 35% just this past week. Among the top 10 alternative cryptocurrencies, Stellar — which is 6th largest digital currency by market value — has fallen the most, losing a little more than 1% for the day. EOS, which is the 5th largest cryptocurrency, has risen the most, gaining 5% to $4.95. Though it still lost more on Saturday than it gained on Sunday. Litecoin also saw decent gains on Sunday. It rose 4% and is currently trading at $55.10. Only 3 of the top 10 cryptocurrencies saw losses today, and their losses were slight. Smaller alternative cryptocurrencies also did well on Sunday. Only two digital currencies among the top 20 saw losses, and their losses were both under 1%. Among the smaller digital currencies, IOTA rose 5.41% during the day to trade at $0.559. While the cryptocurrency market saw a spike on Sunday, it is still trending downward. Market capitalization for all cryptocurrencies is about $195.5 billion, which means that it has fallen $44.7 billion from its intraweek high, which was $240.2 billion. Possibly hurting the market this week were comments by Ethereum founder Vitalik Buterin, who said that opportunities for explosive 1,000% growth in the market are over. He said that this was because awareness of the technology has become widespread. Though he also said that the technology was entering a stage where applications of real economic worth would come into place.
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