Crypto Market Cap Nears $270 Billion – Trustnodes

Crypto Market Cap Nears $270 Billion

0

The global crypto market cap is close to a yearly high and is seemingly nearing that big $300 billion line.

A line it hasn’t properly crossed since 2017 and only briefly in May 2018 as well as June 2019.

Since then however the crypto market cap has generally been sidewaying except for a dip in March 2020 due to the lockdowns from which it has now fully recovered.

Top cryptos by market cap, July 2020
Top cryptos by market cap, July 2020

Bitcoin remains dominant in market cap while ethereum has gained a bit, nearing now $27 billion.

Tether has taken third position and still stays there with it not far off from $10 billion, significantly more than BCH which is seeing its nemesis of sorts, BSV, gain 4% today.

Cardano has seen a fairly big jump however at 11% because they’re launching an upgrade to their network, adding smart contracts.

Chainlink was no where near the rankings even a few months ago, now it’s at $2 billion, helped by much shilling from 4chan.

A fairly new entrant is also Tezos, with it too rising and nearing $2 billion, but its price is still at $2.50.

The more established bitcoin and ethereum are not moving much but dogecoin, the seven year old meme coin, has received a boost from TikTok to see a jump of 20%.

Then there’s the defi tokens. Compound hasn’t moved much but Aave has seen a jump of more than 12%, nearing a market cap of $260 million.

So there’s a reshuffling of sorts in rankings, with bitcoin and ethereum dominating but new coins and tokens are making an entrance, maintaining a fairly dynamic and evolving ecosystem where there are still plenty of opportunities.

Comments