Cryptocurrency market capitalization exceeded $ 300 billion, but the share of bitcoin decreased by 6.5%

Cryptocurrency market capitalization exceeded $ 300 billion, but the share of bitcoin decreased by 6.5%

The rate of bitcoin and other cryptocurrencies continues to grow, and today the market capitalization has exceeded the $ 300 mark. However, the increase in volume is largely due to the rise in price of altcoins, since since the beginning of the year, the indicator of the dominance of MTC has decreased from 68.2% to 61.7%..

Over the past 30 days, the cryptocurrency market capitalization has grown by 41.7%, from $ 216.7 billion to $ 307.2 billion, and since January 1, the market value has increased by 61%. According to analysts, such an increase is justified for several reasons.

First of all, this is due to the stable growth of the MTC exchange rate, which traditionally pulled other coins and tokens along with it. Against the backdrop of positive dynamics, speculators began to accelerate altcoin prices in order to increase trading profits. This led to a decrease in the relative share of bitcoin by 6.5%, since some coins have grown 2-3 times since the beginning of the year.

Cryptocurrency market capitalization exceeded $ 300 billion, but the share of bitcoin decreased by 6.5%

At the time of publication of the PTS traded at $ 10 427 and has gained 1.13% in the last 24 hours. It is possible that the market has already begun preparing for the May halving, since this topic is actively discussed by many representatives of the cryptoindustry and analysts. So far, the market situation looks stable and under the control of the bulls.

During the same time, Ether (ETH) rose 9.88% to $ 272.6, XRP jumped 13% to $ 0.236, and Litecoin (LTC) rose 5.58% to $ 83.3. However, not all altcoins showed such high results, for example, bitcoin cash (BCH), bitcoin CB (BSV) and EOS added only 0.3%, 1.44% and 0.63%, respectively.

text: Ivan Malichenko, photo: iStock, charts: TradingView, CoinMarketCap