In the first six months of 2019, the cryptocurrency market capitalization increased 2.5 times and reached $312 billion. However, the indicator is 2.7 times behind its historical maximum. What trends have been observed in the cryptocurrency market? Read the report.
The cryptocurrency market entered 2019 with the cumulative cap of all coins of over $126 billion. Until the beginning of April, there was a stagnation, the capitalization of cryptocurrencies did not change significantly. However, in early April, the market revived, and the total value of the coins rose to 179 billion dollars. On the 20th of April, capitalization dropped to below 169 billion dollars again, but in May the growth resumed again, which was quickly followed by falls and new growth. The markets became volatile again. On June 26, a sudden price jump occurred and the market capitalization rose sharply to $380 billion. However, on June 27, the index went downwards to almost 314 billion dollars.
The capitalization of altcoins increased almost twice in the first half of the year — from 63.3 billion to 123.4 billion dollars.
The share of Bitcoin in the cryptocurrency market grew over the analyzed period by 9.7 percentage points. up to 61.67%. Ethereum has lost some ground, its share decreased from 11.07% to 9.9%. The share of the XRP coin significantly decreased from 11.47% to 5.35%.
At the time of writing (July 12, 2019), the top-10 cryptocurrencies in terms of capitalization include the following cryptocurrencies: Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Binance Coin, EOS, Tether, Bitcoin SV, TRON.
This top ten accounts for more than 88% of the capitalization of the entire market.
Fig. 2 Capitalization in the context of coins
Source: BNT calculation according to coinmarketcap
Bitcoin has risen in price three times during the analyzed period — from 3747 to 11 359 dollars. The maximum price which is $13,764.58, was recorded on June 26. The minimum price was recorded on February 8 — $3399.51.
Fig. 3. The dynamics of the Bitcoin price
The price of Ethereum increased 2.3 times and reached $303.84 by the beginning of July. Along with this, capitalization increased 2.3 times — up to $32.4 billion.
Fig. 4. Dynamics of Ethereum price
The price of XRP, the third largest coin by capitalization increased from 0.35 to 0.4 dollars.
Fig. 5. Dynamics of XRP cost
Bitnewstoday will continue to monitor the developments in the cryptocurrency market. Whether bitcoin and major altcoins will be able to support the growth in value in the next half of the year? Let’s see and find out — more significant events are yet to come.
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