Crypto Market Cap Nears $400 Billion – Trustnodes

Crypto Market Cap Nears $400 Billion

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Crypto market cap reaches two year high, Aug 2020

The combined market cap of all cryptos and tokens is now at its highest level in more than two years.

For the first time since May 2018, it has reached $375 billion at the time of writing, close to half of the December 2017 peak when it stood at more than $800 billion.

Trading volumes have ballooned since then, partly due to many new exchanges coming online across the globe.

For BTC for example there are now Polish, Turkish, Brazilian, and all sorts of trading pairs handling significant volumes which wasn’t quite the case in 2017.

However some of this volumes is just bots, but that has always been the case with its significant rise so indicating that interest and activity are at far bigger levels now than three years ago.

Much of the increase in global trading volumes and market cap is also due to new tokens and trading pairs.

Defi is the new boom on that front, but plenty of non defi related tokens and projects have launched and continue to launch.

Top defi projects, August 2020
Top defi projects, August 2020

Many of these tokens are brand new and quite a few of them are near one billion dollars in market cap with choices multiplying in the crypto space.

Bitcoin continues to dominate by far however, and eth also is nearing $50 billion in market cap.

Yet tether is still in fourth position, with no huge shakeup in top ten. So suggesting the bull is now quite here yet, but may hopefully be on his way.

The picture therefore is set to change with quite a few potentially top ten worthy projects either launched already or on their way towards launching.

Thus tether should hopefully slowly be knocked off the top ten, but who will take those positions, is for time to tell.

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