Global Crypto Market Cap Nears $300 Billion

The market cap of all cryptocurrencies combined is at its highest in close to a year, rising to $287 billion.

That’s up from a low of $100 billion in December, so trippling in the past three months on considerable trading volumes.

Unfiltered trading volumes are now up to $50 billion, while in the ten exchanges known to not fake volumes they stand at $3 billion for the past 24 hours.

The real number is probably somewhere in between, perhaps $10 to $20 billion, but how it changes might be more relevant and since December trading volumes have ballooned.

That’s while the market cap still stands far below the all-time high of $830 billion on January 8th 2018, with bitcoin dominating by far.

Bitcoin dominates with its circa $165 billion market cap accounting for 57.3% of all cryptos.

Ethereum is a very distant second at just $28 billion, still stuck below $300 even as bitcoin has managed to stay above $9,000 for now some time.

XRP isn’t that far below eth, while Litecoin and BCH keep changing positions with roughly the same market cap.

BNB is up again, a new all time high for Binance’s coin despite the exchange experiencing a hack and banning US residents.

Tether’s market cap is also up, now to $3.5 billion. That’s $700 million above the previous all time high, suggesting new fiat is entering the system.

The other three cryptos at the bottom have clearly been reduced quite a bit, down today too between 2% to 3%.

So suggesting there appears to be some sort of flight to bitcoin. The market is waiting for it to cross $10,000, which would be a 10% increase from the current price.

Alt season may follow at some point, but for now it appears to be the bitcoin show.

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