After weeks of stalling, the virtual asset market is rising across the board on the back of a rally in U.S. stocks. Bitcoin has reclaimed $94,000, and Ripple has jumped as much as 12%.
As of 8:20 a.m. on Jan. 6, according to the global virtual asset data site CoinMarketCap, Bitcoin is trading at $93,974, up 2.83% from 24 hours earlier. That is up 7.75% from a week ago.
Ethereum, the No. 2 by market capitalization, is up 2.82% and trading at $3,231. Ripple is up 12.7% at $2.35. Ripple is maintaining a sharp rally, rising 27.3% from a week ago.
The New Year rally in U.S. stocks and the virtual asset industry is strengthening as the Trump administration arrests Venezuelan President Nicolás Maduro. After Maduro was arrested the previous day, oil-related shares surged and tech stocks remained strong. In addition, Ripple is said to be rising on expectations that Japan is considering using Ripple for payments.