Capitalization

All of last week was a bearish trading period for almost all popular cryptocurrencies on the market, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and others. The total crypto market capitalization fell over 10% in the last 7 days.

The last week in May was a bullish period for the entire cryptocurrency market. The entire cryptocurrencies opened the week with the total market capitalization of $1.23 trillion, it kept on increasing and it is now standing at $1.558 trillion, indicating a gain of about 27%.

Ripple (XRP) has been battling with deeper correction after the breakdown to $0.18 low on December 28, 2020. At the beginning of 2021, Ripple price made an upward move.

On market capitalization, Litecoin occupied the fifth position. The coin has been range-bound in 2020. The price has been consolidating between $35 and $95 since January.

On September 1, 2020 at 12:00 UTC, the KickEX cryptocurrency exchange will buy back KICK tokens (KickToken) worth a total of $100,000 at a price of $0.00015 per token. The buyback will be carried out only on the KickEX exchange and according to specific conditions.

Bitcoin, the first and the most commonly known cryptocurrency in the world is not a perfect currency for every use. It now faces stiff competition from alternative currencies (altcoins) such as Ether, XRP, Tether, Litecoin, among others in terms of market capitalization as well as the amount of data stored on its blockchain.

While the cryptocurrency market declined overall, the 10th largest coin by market capitalization, Tezos (XTZ), fell 9%, the biggest drop among the top 10 cryptocurrencies. The world’s original altcoin Bitcoin (BTC) has also plummeted by over 4 percent. Tether (USDT) has continued to trade in green for the past one week and it currently has the biggest daily volume of $47.73 billion and the supply of 4.64 bln.

The market recovery for the cryptocurrency sector greatly increases global capitalization and price of several binary coins. To motivate the bullish uptrend some good news and the usual cascading effect.

Yesterday, the entire market capitalization of the cryptocurrency industry increased by around 9.5% to approximately $238.112 billion. That was achieved with $165.287 billion daily traded volume, 203% volume increase which hypothetically indicated the outset of the 2020 alt season, and possibly the next bull run. Even though Bitcoin (BTC) price soared with the rest of the industry, it didn’t change as positively as the rest of the major altcoins, so, it managed to decline by more than two points of dominance, and reduced up to almost 66.4 percent.