Total market cap saw modest growth
The market generally moved sideways this week, and continued to try and stabilize after the sharp upturn seen at the beginning of the month. The total valuation stood at $176B early on Monday, and managed to remain stable until the early evening when the total cap fell by 2.8% and hit $171B. After some fluctuating on Tuesday, the reverse move eventually took place later in the day and the market recovered and moved from $171B to $177B, a growth of 3.5%.
The market then stabilized during the midweek and moved within a $3B range well into Friday when the total valuation threatened to break $180B. However, a slight pullback saw the market fluctuate around $177B once again, and a recovery over the weekend saw the total cap return to hovering close to $180B.
After touching $181B, a more significant retracement has begun to take place over the last 24 hours and the total cap has fallen back to around $177B, and the market continues to fluctuate around the same value as the week comes to an end.
The daily trading volume ran up to around $49B on Monday, and pulled back over the week. However, a surge on Thursday saw the daily volume hit $49B again and the trading volume has threatened to surpass $50B again over the weekend. The 24 hour daily trading volume currently stands at $49B while the total market valuation stands at $177B.
The sideways movement had mixed results on the top coins, and Bitcoin grew by around 3.2% while Ethereum grew by 2.5%. BNB was the big winner and jumped by just over 20%, while Bitcoin Cash saw modest 2% gains. At the same time, ADA tumbled by around 12%.
Among the top 100, BAT jumped by 40% as support for the old version of their browser comes to an end and the project continues to develop. MONA almost matched BAT’s great performance, while DGD gained a very solid 34%. MCO and WTC completed the top 5 gainers list with 25 and 20% gains, respectively.
Bitcoin advanced to $5,300
Bitcoin began the week trading at $5,185 and climbed in value before dropping from $5,225 to $5,080 later in the day. This represented a fall of 2.7% and a reverse move took place almost 24 hours later. BTC climbed from $5,090 to $5,260 on Tuesday evening, which saw an improvement of 3.3%.
From this point on Bitcoin began to stabilise and moved within a $50 range until Thursday when the price ran up to approximately $5,325. However, the price fell to $5,265 early on Friday before going on to climb steadily over the weekend, and BTC grew by 2.1% to hit $5,379 during the early hours of Sunday.
Bitcoin’s daily trading volume stood at around $11B on Monday and moved close to $13B on Thursday. There has been sustained trading activity over the weekend, and the 24 hour trading volume currently stands at $12.8B while BTC is trading at $5,303 and retains a market cap of $93.6B. Bitcoin also enjoys a dominance of 52.8%.
Ethereum moved to the $170 level
Ethereum began the week with similar price movements to Bitcoin and moved from $169 to $161 across Monday. This represented a drop of 4.7% and ETH picked up again over Tuesday and moved from $163 to $170 by the early hours of Wednesday.
However, the big move took place early on Thursday and jumped by 4.7% from $168 to eventually reach $176 later in the day. This naturally led to a pullback, but ETH managed to stay close to $174 well into the weekend. However, a slump during the early hours of Sunday has seen ETH fall from $175 to just below $170 and ETH continues to fluctuate around that figure as the week comes to a close.
Ethereum’s daily trading volume stood at $4.25B on Monday and broke past $5B on Thursday, and the 24 hour trading volume currently stands at $4.7B, while ETH is trading at $170 and retains a market cap of $18B.