• Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
Subscribe
  • Login
  • Register
No Result
View All Result
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
No Result
View All Result
No Result
View All Result

Cryptocurrency’s Market Cap Nears All-Time High

06/08/2017 13:52
No comments

The market cap of all digital currencies is now just $4 billion off its all-time high of near $116 billion reached during June this years. Currently standing at almost $112 billion.

Trading volumes have also seemingly returned with around $4 billion handled in the past 24 hours, double recent volumes, but still off its all time high of around $6 billion.

The combined market cap of all digital currencies.

The recent price action of all digital currencies seems to suggest a V recovery with price sharply rising after what appears to be a recent bottom of $60 billion during mid-July.

That might perhaps suggest the late June and most of July bear market may be coming to an end, but more positive price action is needed for that to be confirmed.

The rise this time has seemingly been fueled by bitcoin which made a new all time high yesterday of $3,300, giving it a current market cap of almost $53 billion.

Bitcoin’s trading volumes however remain sluggish at just $1.2 billion, lower than ethereum’s which has also risen some $30 yesterday.

Bitcoin’s recent price.

The rise of both might have been fueled by Bitcoin Cash which has seen a price decline during the same time of more than $500, down from $800 to now trade at around $270.

The sell-off may have been in anticipation of insta-dumping following the opening of deposits on Bitfinex and Bittrex in the past 2-3 days. But recently its price has seemingly stabilized with blocks now being found within the usual 10 minutes.

Bitcoin Cash seemingly starts operating as normal.

There hasn’t been much action in other digital currencies today except NEO (former Antshares) has been rising more than 22%.

They are awaiting NEO 2.0, which is to launch on August 8th with full smart contracts upgrading their current limited capabilities.

That comes with re-branding as well, and a new site, so creating some apparent hype around the currency, seemingly leading to its price rise.

The current top 14 digital currencies.

Interestingly, BitConnet has been rising too. The reason is probably because they have a BCC ticker, although where the second C comes from is not clear.

BCC is the ticker some exchanges have given to Bitcoin Cash, while some others, like Kraken, are trading it under BCH, while others suggest the internationally recognizable ticker would have to be XBC.

In any event, all that BCC talk might have led some to buy BitConnect, probably in anticipation that others would too, but BitConnect somehow offers interest for all wallets with BitConnect coins on them. Leading some to allege it’s a literal scam of sorts.

They may therefore soon go back where they came from as focus returns to the top digital currencies with many asking whether a new bull market is underway or whether we will see some more cooling down.

 

Related Posts

Euro area inflation, March 2023

Inflation Falls More Than Expected in Europe

Two Faced Elizabeth Warren Allies with Banks Against Crypto, March 2023

Elizabeth Warren Allies with Banks

Bitcoin Up on Futures Expiry as Stocks Replace CME

Banks Keep Rolling Fed Loans

Load More
  • Trending
  • Comments
  • Latest
US gov bitcoin holdings, March 2023

US Gov Becomes Top Holder of Bitcoin

CFTC

Bitcoin, Ethereum and Litecoin Are Commodities Says CFTC

Biden and other global leaders at the Summit for Democracy, March 2023

Is Dedollarization Happening?

The National Bureau of Economic Research

Goldman Sachs and JP Morgan Can’t Survive Bank Run Says NBER Paper, Fail Stress Test

CFTC

Bitcoin, Ethereum and Litecoin Are Commodities Says CFTC

Biden and other global leaders at the Summit for Democracy, March 2023

Is Dedollarization Happening?

Euro area inflation, March 2023

Inflation Falls More Than Expected in Europe

Two Faced Elizabeth Warren Allies with Banks Against Crypto, March 2023

Elizabeth Warren Allies with Banks

Coinbase on the day of Nasdaq Listing, April 2021

Bitcoin Up on Futures Expiry as Stocks Replace CME

Fed St. Louis HQ

Banks Keep Rolling Fed Loans

Comments

Latest News

  • Inflation Falls More Than Expected in Europe
  • Elizabeth Warren Allies with Banks
  • Bitcoin Up on Futures Expiry as Stocks Replace CME

About Trustnodes

Terms of Service

Privacy Policy

Our Ethics and Values

Trustnodes Newsletter

(You have to be a paid subscriber)

Trustnodes © 2017-2023. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics

Trustnodes © 2017-2023. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

Welcome Back!

Login to your account below

Authenticate with MetaMask Loading...

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?