Market Cap

Bitcoin, the original cryptoasset, fails to challenge the $50k mark once again. While Bitcoin (BTC) is still struggling below $49,000, Solana (SOL) has overtaken Polkadot (DOT) and USD Coin (USDC) in the last 24 hours to become the world's number 8 cryptocurrency by market cap.

The digital currency market saw significant growth this week.

The cryptocurrency market is thriving as the month of August draws to a close.

On August 19, LUNA recorded its all-time high of about $33.4 with a 7-day gain of 72%. But why did the price of this 14th cryptocurrency by market cap skyrocket?

The total market capitalization of cryptocurrencies is up over 15% in the last 7 days. At the beginning of the week, the market was worth $1.7 trillion. On August 15, it was around $2.0 trillion.

As a welcome gift, Lionel Messi, a famous football player, received a package of cryptocurrency fan tokens from the Paris Saint-Germain (PSG) football club, triggering a price spike.

The month of July was not favorable for most of the popular cryptocurrencies in the market. During the month, the total market capitalization and trading volume of cryptocurrencies reached a low of $1.187 billion and $63.409 billion, respectively.

In the last 30 days, the total cryptocurrency market capitalization for over 11,125 tokens in the world increased from $1.367 trillion to $1.623 trillion. The growth of the market cap can be attributed to the increasing use of digital currencies and non-fungible tokens (NFTs) in the ongoing Summer Olympics 2020.

Last week, the total market capitalization of cryptocurrencies increased from $1.379 to $1.609 trillion, an increase of about 16.7%. Cryptocurrency market review by Coinidol.com.