Cryptocurrency Market Capitalization Keeps Falling
Cryptocurrency Market Capitalization Keeps Falling
The cryptocurrency market capitalization has been steadily falling while the bitcoin dominance is still above 60%.
There are many factors that can affect the market cap of a cryptocurrency. One of them is public interest in a particular coin, which can be measured by its popularity on social media. Volatility also has an impact on the market cap, as well as price fluctuations and supply. These are some of the reasons why the cryptocurrency market cap keeps falling.
The total market cap for all cryptocurrencies is now $182 billion, which is the lowest it has been since Dec 2017. The highest point was in Jan 2018 when it reached $800 billion. On June 1st, the total cryptocurrency market capitalization peaked at $350 billion and then started to fall. It fell from there to around $250 billion on June 6th, before it fell again to around $200 billion two days later. This represented a drop of 43% in just four days. The total cryptocurrency market capitalization then continued to fall over the next few months and reached its current level last Thursday.
Cryptocurrency Market Capitalization Keeps Falling
The cryptocurrency market is again facing a severe correction, and the total capitalization has dropped below $300 billion. It is a second time this year that the market sees a steep fall. It happened for the first time in mid-February when it dropped to $250 billion. Since then, the market had been steadily growing, reaching its peak at $800 billion in January 2018.
The current situation in the market resembles what we saw back in February. The Bitcoin price has fallen below $7,000 and even came close to $6,000, while Ethereum is trading at $400. But this time the rest of the market is faring worse than it did in February: all currencies have lost more than 25 percent of their value during this correction. In February, all currencies lost about 10 percent of their value before recovering to previous levels. Now it will take at least several days for them to recover from losses as steep as these ones.
Analyzing charts for both periods (mid-January and mid-February), one can see that there was no particular event that triggered this correction and caused such a huge loss of capitalization. Most likely, it is just an organic movement of the market that people were waiting for
Does it matter that the crypto market is constantly fluctuating? This is a question many people in the blockchain community keep asking. In their view, the current value of any cryptocurrency is not an indicator of what that particular currency can do.
The crypto market capitalization has been falling for months now and many people are getting worried about its future. The total market cap of all cryptocurrencies has fallen from $830 billion in January to $330 billion. That’s a 60% drop! Some experts are blaming this downturn on many factors including investors’ fears of regulation, countries banning some cryptocurrencies, and scams.
The value of the cryptocurrency market capitalization has fallen to $218 billion. The number shows a decline of $50 billion in just seven days with Bitcoin accounting for the lion’s share of the losses. The rest of the top 10 by market cap is showing similar patterns of decline.
Bitcoin’s current price is $6,420 according to data from Coinmarketcap and is down 4.5% on the day. The most dominant cryptocurrency has lost over 15% in value over the last seven days and is trading at its lowest level since November last year. Bitcoin was trading around $7,000 this time last month but has been steadily losing value since then.
Analysts are pointing to a variety of factors that may be causing this decline; some have cited the US Securities and Exchange Commission’s decision to delay its ruling on a Bitcoin ETF while others have suggested that the bearish attitude towards Bitcoin that some banks have shown recently may be having an impact. Whatever the reason, Bitcoin investors will not be too happy with their investment right now as it continues to slide into bear territory.
The price declines that we have seen in BTC have been mirrored across other cryptocurrencies as well. Ethereum, which is still second by market cap at $20 billion, has suffered
The cryptocurrency market keeps falling, with the total value of all cryptocurrencies (according to CoinMarketCap) currently standing at $251bn (£189bn). This is down from over $800bn in January and is the lowest figure since November 2017.
The overall picture is of a market that’s suffering badly after a huge boom in late 2017 and early 2018 – but what’s behind this crash?
Despite there being around 1,500 cryptocurrencies on the market, the vast majority of them are worth less than $1m, meaning that five currencies account for more than 80% of the entire cryptocurrency market.
Over the past few months the cryptocurrency market has been fluctuating, with Bitcoin’s price crashing to below $6,000, and many altcoins losing more than 50% of their value. The market capitalization of cryptocurrencies had decreased by over $100 billion since early May.
A cryptocurrency which saw a significant drop in its price was Litecoin (LTC). It dropped from an all-time high of $375 to around $110. But, it is still up over 6,000 percent from its price at the beginning of last year.
Ethereum (ETH) also saw a decline in its price from around $1,400 in mid-January to around $500 now. However, it is still up more than 9,000 percent from its price at the beginning of last year.
Bitcoin Cash (BCH) also dropped significantly in price from around $2,500 to about $630. It has lost 75 percent of its value since early May. Bitcoin Cash is up over 1,100 percent since the beginning of last year.
Ripple (XRP) has also declined considerably in value over the past few months. Ripple’s price reached an all-time high of almost $4 in January but is currently trading below $
Market capitalization is one of the most important and commonly used metrics for determining the overall size of a cryptocurrency. The term refers to the total value of all coins in circulation, and it is calculated by multiplying the total number of coins in supply by the coin’s current price. It is presented as an indicator of a coin’s perceived value, and it has been used in traditional markets for decades.
In many ways, market capitalization is similar to market volume. They both represent the amount of money that changes hands within a specific period, with market capitalization being the theoretical dollar amount on an investment, while volume reflects how much money was actually exchanged. However, market capitalization differs from volume in that it doesn’t limit itself to transactions that took place during a specific period. Instead, it takes all transactions into account and multiplies them by their current price.
You may also see market capitalization referred to as “market cap.” This term is often written with a dollar sign before each number (