Bulls Taking Over: Total Market Cap of Cryptocurrencies Reaching $500 Billion
The global-market capitalization combined from all cryptocurrencies circulating around in the market is heading, while getting very close, to the big $500 billion. The same level was felt briefly back mid-March when there was an attempt of cryptos to reverse the major losses experienced beginning of the year.
Trading volumes, after rising above $25 billion, are fluctuating between that and $30 bln. Being led by OKEx at a total of $2.5 billion, followed by Binance at $2.2 billion and then Huobi $1.7 billion.
Bitcoin’s dominance from 45% has dropped drastically in April to 36.01% as seen above. Eth has made some considerable gains, rising from around 9% in December, to now 17%. While bitcoin has fallen to 36%. Bitcoin cash has seen some price rise, and thus market-share, but it remains below Ripple which currently stands at 7.7%.
Bitcoin Cash has risen in particular today against the US Dollar with double digit gains of 12.10% up to $1,688.34, which means almost $200.00 in 24-hours. This might come due to the much anticipated May 15th hardfork upgrade that is coming.
The second in lead – Ethereum (going by the token ETH) is changing hands at $808.64 with 4.14 percent increase in the last 24-hours. The level has not been touched by the pair ETH/USD since the beginning of March 2018 – according to CoinMarketCap. This bullish set up has a pattern target of $1,130, with minor resistances at $900 and at $1,000.