Volume

The digital currency market saw significant growth this week.

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.

Miners forked Ethereum (ETH) and also integrated EIP-1559 (Ethereum Improvement Proposals) on August 5, but there was neither a price crash nor a chain split. Rather, the EIP-1559 upgrade caused Ethereum's price to skyrocket by about 5% and trading volume by nearly 12%.

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.

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.

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.