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Market Cap: $233,823,370,084 24h Vol: $90,502,829,361 BTC Dominance: 64.4%
Top 100 Coins by Market Cap
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The Bitcoin (BTC) price was down 6.8 percent on the day to US$7,075 by 11:30 UTC (6:30 ET) on Tuesday, the lowest level since November 2018. The sell-off continued for a second straight day after reports emerged about Bitfinex seeking a private placement of shares in its parent company iFinex.
The Bitfinex news has effectively caused a knock-on effect on all major cryptocurrencies, with very few coins in the green. The total market capitalization stands at US$204 billion, trading volume is at US$23 billion and dominance of bitcoin remains at 51.5 percent.
The top ten are red across the board with losses between 2 and 8 percent. Ethereum (ETH) is down 4 percent to US$148 and Ripple’s XRP is down by 3 percent, currently trading at $0.1944.
Altcoins are also experiencing major losses, with double digit sell-offs across the board. Binance Coin (BNB) is the only exception and it’s currently trading at $16.77 after gaining 1 percent on the day.
Bitcoin Cash ABC (BCHABC) lost 10 percent of its value, now trading at $231 while BCH
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Coin Market Cap: In the Beginning
The coin market cap concept was created by a crypto enthusiast by the name of Chris Burniske. The idea to create such a website came to him during his time at ARK Invest, one of the pioneers in bitcoin financial services.
At that time, he noticed the need for a tool that would allow people to keep track of crypto assets and their market capitalization. He also wanted to know just how much this market was actually worth. As he later told Business Insider, he was working with ARK Invest to get an estimate for this, but it turned out that nobody knew for sure.
When he realized there wasn’t any source where all this information could be found, Chris Burniske decided to make one. So, together with Adam White and Nick Tomaino, he founded CoinMarketCap in May 2013.