Cryptocurrency markets are seeing decent gains on Friday following the announcement Square made the day prior about purchasing $50 million worth of bitcoin for reserves. During the morning trading sessions, the overall market capitalization of all 7,000+ crypto assets is up over 2% hovering at $340 billion.
Digital currency markets are doing well on October 9, as a number of the top crypto markets have seen 24-hour gains. The positivity increased on Thursday, when the publicly listed firm, Square, told the public it purchased 4,709 BTC. Bitcoin is up 4.4% for the last seven days, 8.1% for the last 30, and over 19% for the last 90 days.
Moreover, bitcoin (BTC) has surpassed the $11k price range and is currently trading for $11,062 per coin at the time of publication. BTC’s market capitalization is over $205 billion and captures 61% dominance today amongst all the other market valuations.