Crypto market observed good mometnum after a long bearish season. Crypto market which fell below $900 Billion some how managed to surpass $1 Trillion. Currently global crypto market cap is around $1.17 Trillion. Almost 3.65% rise observed in last 24 hours.
BTC as usual at the top of the list with a market cap of $528 Billion. BTC held the a lion share of 45.5% of the overall market cap. BTC which was struggling to maintain $21,000 couple of days ago managed to surpass $27,000. At one stage coin was trading around $27,756. However, coin unable to maintain its worth and currently coin is trading around $27,350. BTC observed 34.5% rise in last 7 days. Such a massive growth helped market to observe decent momentum which was missing from the long time.
ETH is at the second spot was a market cap of $219 Billion. Currently ETH is trading around $1800. ETH has a market share of 19% of the total marketcap. Top two coins have a market share of 64.2% of the total marketcap. This reveals the influence of top two coins over other coins.
BNB is at fourth spot. BNB managed to gain 22.5% rise in last 7 days. Even our own chain coin Hive observed 23.2% rise in last 24 hours. This reveals that alt coins are also growing along with top two coins. This is actually a good sign for the market as it will help to build investors trust over market which will help to bring more investment in crypto market.
Good to see that crypto currency has gained momentum but it is the end of crypto long bearish season? It is hard to predict the market situation as crypto currency is one of the most volatile currency as it may make or break you any time. We can't rely on market momentum. One bad news may badly hit the market.
One of the main reason of less investment in crypto market is global economic crises, high commodity prices, high inflation and interest rate. I am hopeful thing will settle down with economic stability. Economic stability, low interest rate and less inflation rate will help crypto market to grow. What is your opinion my friends? This is it for my today post. Wish you all a very happy, heathy and prosperous life ahead. Have a nice time.
