Crypto currencies take another big step forward and sometimes reach unknown heights. The total market capitalization rises to over 700 billion US dollars, even with individual coins new all-time highs are reached. Meanwhile, the balance of power is shifting in the direction of Altcoins.
The small valley, which crypto currencies faced after unbelievably high altitude in the second half of December, now seems to have finally passed. If the crypto market temporarily collapsed again by almost a third on the basis of an extremely high level over the holidays , then the limit reached in mid-December at the beginning of the year could be widened again. The course correction made in the second half of December does not turn out to be less tragic in retrospect than it initially seemed, it could even have had a stabilizing effect.
So when you looked at Coinmarketcap this morning, you could see a thoroughly green colored field with values in the double-digit positive range. The driving forces of the market in the top 10 were once again the already strong ripple (+19), Cardano (+29) and Stellar (+32), which all of course reached new record levels in recent days. For example, Ripple, with a market capitalization of over US $ 100 billion for the first time, is heading for $ 3, clearly the second place it struggled with Ethereum in the past week .
Ethereum itself, with a market capitalization of $ 85 billion, is close to a market value of $ 900, which is also a new record. Cardano and Stellar meanwhile, the numbers 5 and 7 of the crypto scene. Cardano is scratching the $ 1 mark with a value of $ 95, and now collects $ 25 billion. In Stellar is tied with about 12 billion US dollars, almost half, the value of a Stellar Lumen is around 70 US dollar cents.
Another recent phenomenon is the relative weakness of Bitcoin in terms of total market capitalization and the share of Altcoins in current growth. So the BTC dominance of the market with 35% has never been so low as current. Unlike the summer of 2017, when Bitcoin’s market share fell below 40% in the face of the rise of Ethereum, Bitcoin has to make the market overall this time.
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Categories: Crypto Currency