Global Crypto Market Cap Nears $300 Billion

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The market cap of all cryptocurrencies combined is at its highest in close to a year, rising to $287 billion.

That’s up from a low of $100 billion in December, so trippling in the past three months on considerable trading volumes.

Global crypto market cap, June 2019
Global crypto market cap, June 2019

Unfiltered trading volumes are now up to $50 billion, while in the ten exchanges known to not fake volumes they stand at $3 billion for the past 24 hours.

The real number is probably somewhere in between, perhaps $10 to $20 billion, but how it changes might be more relevant and since December trading volumes have ballooned.

That’s while the market cap still stands far below the all-time high of $830 billion on January 8th 2018, with bitcoin dominating by far.

Current top cryptos, June 2019
Current top cryptos, June 2019

Bitcoin dominates with its circa $165 billion market cap accounting for 57.3% of all cryptos.

Ethereum is a very distant second at just $28 billion, still stuck below $300 even as bitcoin has managed to stay above $9,000 for now some time.

XRP isn’t that far below eth, while Litecoin and BCH keep changing positions with roughly the same market cap.

BNB is up again, a new all time high for Binance’s coin despite the exchange experiencing a hack and banning US residents.

Tether’s market cap is also up, now to $3.5 billion. That’s $700 million above the previous all time high, suggesting new fiat is entering the system.

The other three cryptos at the bottom have clearly been reduced quite a bit, down today too between 2% to 3%.

So suggesting there appears to be some sort of flight to bitcoin. The market is waiting for it to cross $10,000, which would be a 10% increase from the current price.

Alt season may follow at some point, but for now it appears to be the bitcoin show.

Copyrights Trustnodes.com

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