Weekly analytics: why cryptocurrency capitalization didn’t exceed $500 billion - Only4Free - Cryptocurrency Connection

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Weekly analytics: why cryptocurrency capitalization didn’t exceed $500 billion

Weekly analytics: why cryptocurrency capitalization didn’t exceed $500 billion




The past week was pretty tense for the cryptocurrency market: fluctuation of exchange rates in the middle of the week, trials with the ICO industry in the US and the statements of the world authorities on the development of new mechanisms to regulate the cryptosphere. Only4Free presents the most exciting events of the past seven days.

Figures



Capitalization of the cryptocurrency market rose by almost 8% in a week. However, experts say that it failed to exceed the psychological threshold of $500 billion. Now the total value of all cryptocurrencies is estimated at more than $ 462 billion.

The Market Cap indicator reached its maximum, 465.7 billion dollars, on February 28. At the beginning of the analyzed period, the level of capitalization fell to 417.6 billion dollars.



It is worth noting that the increase in market capitalization by 8% is mainly due to the rise in the total cost of bitcoin coins, as the market cap of altcoins has grown only 2.6%.

As for the value of the most considerable cryptocurrency, after its growth on twentieth of February, the bitcoin rate started a two-day fluctuation and slipped to $9407 on February 24. The cost increased later, and in March it reached $ 11,000.

The top five leaders by the level of capitalization are Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin. Their total cost is about 344 billion dollars — 74% of the total market.

Ethereum appreciated by 7,5% during the past week, Bitcoin Cash gained 6% in price, Litecoin - 8%. The week was less successful for Ripple, its rate was trading at a level below $1, though a week earlier the coin cost around $1.14-1.20.

News



The past week was eventful. Authorities presented their reports on intentions to create a regulatory system for the cryptosphere.


Source: https://bitnewstoday.com/market/blockchain/weekly-analytics-why-cryptocurrency-capitalization-didn-t-exceed-500-billion/

Tags: cryptocurrency market, cryptosphere, Ethereum, Bitcoin Cash, Ripple, Litecoin, crypto news, cryptocurrency, cryptocurrencies


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