Crypto markets are soaring new heights this week with no signs of cooling off. With market capitalization reaching an all-time high figure of three hundred thirty-five billion dollars ($335 billion), there seems to be no looking back for other crypto performers as well.
Bitcoin, popularly referred to as the “king of crypto” because of its highest market dominance, has reached another high of eleven thousand three hundred fifty dollars ($11,350), the third time in this week.
The crypto king is likely to up its game and hit the resistance above eleven thousand five hundred dollars mark ($11,500) with Asian investments. With daily volumes well above twenty billion dollars ($20 billion), BTC market capitalization is on fire.
Although Ethereum manages to inch past three hundred ten dollars ($310) mark, there are not many forces driving the alternative coins’ market at the moment.
With crypto analysts speculating over a long-lasting bitcoin bull run, it is apparent that BTC market is stealing the thunder away from altcoin markets.
TRX, the currency in Tron’s blockchain, has clung to its position in top ten performing cryptocurrencies with a modest addition of three percent (3%) today. Meanwhile, Bitcoin cash (BCH) rounds up to over two percent (2%).
If one looks at the top twenty crypto positions since yesterday, it is hard to make out a difference as most cryptocurrencies have not budged at all. Slight movements such as NEO’s four percent (4%) gain, NEM and Cardano’s additional bag of two percent (2%), have barely changed the picture for altcoin markets.
Shanghai-based crypto Ontology, gains a spot in the top twenty upon bagging six percent (6%).
With a hefty twenty-eight percent (28%) leap in VET’s market cap, things look moderately positive for VeChain. The rumored collaboration with Walmart has worked in VeChain’s favor as its trademarked cryptocurrency VET token grab 1 cent after a long time.
VET market cap calls for a pragmatic approach as it reaches over five hundred million dollars ($500 million) mark.
Following a downbeat week, Insight Chain (INB) is up by forty percent (40%) today whereas global adoption cryptocurrency Energi continues to be on an upward trajectory by further adding thirty-five percent (35%) to its quota. Meanwhile, low cap altcoins struggle to find the ground with twelve of them barely making it double digits.
Things haven’t looked as better for crypto markets as they are now with bitcoin’s market dominance multiplying at full pelt but in the last 24 hours, the crypto market capitalization has earned more than ten billion dollars ($10 billion) to hit 2019’s monumental figure of three hundred thirty-five billion dollars ($335 billion).
While bitcoin takes the cake for being the best performing crypto yet again, altcoin paints a grim picture for its investors.