Market Cap

Research has shown that most bitcoiners are so obsessed with the cryptocurrency that they would not give up even if bitcoin value dropped to just below $3,000. Lately, bitcoin has lost more than half of its value, but why are many people willing to lose so much and still not give up?

The global market cap of cryptocurrencies is $1.27T, down 14% in 7 days. This was one of the worst trading periods in the cryptoasset market since May 23.

The industry opened the week with a total MC of $1,386T (24-hour volume of $77,061), but currently the total cryptocurrency market cap stands at $1,398T (24-hour volume of $72,171B), indicating that the market has seen growth of just 0.87% over the past 7 days.

During a presentation at Talent Land Jalisco, Mexico, the philanthropist, Apple co-founder and electronics engineer, Stephen Wozniak praised Bitcoin (BTC) and said that the world's oldest cryptocurrency is better than gold. His statement caused excitement throughout the cryptocurrency market and drove the price of Bitcoin up.

June 2021 was not a profitable trading period for most cryptocurrencies, including Bitcoin. During the month, Bitcoin hit a 30-day low of $28,893, the price it last touched on December 28, 2020 (over 6 months ago). Dogecoin was the worst loser among the top 10 coins in the global cryptocurrency market.

In the month of June, the overall cryptocurrency market reached a high of $1.776T and a low of $1.165T, a decline of 52.5%. USD Coin (USDC, $1.00, 30d gain of 0.02%) was the best performer for the month among the top 10 coins by market cap.