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Crypto Market Cap bounces back after reaching $800 bln

08 January 2018 00:00, UTC   |   9481
Crypto Market Cap bounces back after reaching $800 bln

Last week capitalization of the cryptocurrency market set another record. On Saturday, the aggregate market value of all digital currencies and tokens exceeded $800 billion for the first time as it peaked at $834 billion.

This rally was taking place as altcoins demonstrated a sharp rise that led to a drop of the bitcoin dominance index. On January 4, bitcoin's capitalization for the first time amounted to less than a third of the total market cap.

The first days of the new year were marked by a rise of Stellar and TRON which broke into the first ten in terms of market cap having displaced the long-livers DASH and Monero. As for Ripple it has strengthened its second place, confidently ahead of Ethereum. However, for ETH the beginning of the year was marked by an important event - the value of the token exceeded $1000 for the first time.

The trading volume grew rapidly as well: during the week this indicator exceeded the level of $70 billion.

However the overall growth was followed by a major correction this Monday. Total Market cap fell by more than 10% as bitcoin price dropped below the level of $15000.


Source: Coinmarketcap.com

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