Market Cap

August has not been bullish for some of the major cryptocurrencies that are among the top 10 tokens by market cap (MC). Let’s review 5 biggest losers of August 2020 in the cryptocurrency market.

The month of August started on a high pitch with some top cryptocurrencies doing bullishly in the market. Most of the tokens increased in volume and prices.

Talks about Ripple being a scam pop up every now and then. The altcoin’s runner, Brad Garlinghouse even had to handle several lawsuits concerning registration problems. Nevertheless, XRP remains the third-largest by market cap.

The cryptocurrency market is showing an overall upward trend on April 26. Six of the top 10 cryptocurrencies by market cap surged, and four are lighting red indicating a fall. Bitcoin (BTC) aims to touch the $8,000 mark.

Stablecoins climb up in market cap value, while cryptocurrencies still fail to recover from the post-pandemic knockout. This wasn’t left unnoticed by the world governments, and notably, G20, who already sought ways how to cope with a growing demand for stablecoins.

The world’s number one cryptocurrency, Bitcoin, has resumed its upward trajectory and is expected to trade above $8,000 soon. Bitcoin has now hit and exceeded the $7,000 resistance level. This momentum is one of the signals of a massive rally and a possible bull run.

In March 2020 Bitcoin price volatility surged to a record high, due to massive sell-offs and panic on the market. However, recent researches of the cryptocurrency show that long term Bitcoin holders, aka Hodlers, are not in a hurry to sell their tokens.

The entire cryptocurrency market started February 18, 2020 with a good trading impression. The uptrend of some stocks, which have been strong at the start of the market, is gradually slowing down. All of the top 10 have risen, and 83 of the top 100 have a green light, indicating a rise. The entire market cap is increasing and it is now standing at around $285.2 billion.

The world’s oldest blockchain-based cryptocurrency, Bitcoin, is in the process of compacting at $1,300 ahead of the US holiday weekend. BTC broke through $1,500 this week, but did not stay long enough to retreat. But the week ends with a safe defense of $10,000 psychologically and technically significant.