The head of the cryptocurrency market reached 11 billion dollars on Tuesday, indicating that the ecosystem has rebalanced since the end of December, which has provoked over 200 billion dollars to evaporate from the markets. This gathering was influenced by someone else and, as the Bitcoin value continues to fall below 14,000 USD and the market share of cryptocurrency has reached a historically low level.
The Cryptocurrency value has risen by 30 billion dollars, reaching the first day of regular work in 2018, bringing the cryptocurrency market cap to 642 billion dollars. This depicted an increase of 5% over a single day and placed the market’s cryptocurrency market cap of 653 billion dollars, the maximum amount set in mid-December when the Bitcoin rate reached 20,000 USD.
The Bitcoin Price Returns a Minor Increase
The Bitcoin value had a wavy pace to start the year but managed to gather a slight daily increase on Tuesday morning. After fluctuating between 12,794 USD and 13,897 USD, the Bitcoin rate ended the day at 13,484 USD on Bitfinex for a 24-hour gain of about 1%. Counting the average premiums of Asian Cryptocorection exchanges, the global average price of the Bitcoin is now 13,794 USD, which translates into a market cap of 231.4 billion dollars.
In particular, Bitcoin’s market share is now at a historically low level. After enjoying a dominant market share of 68% on December 8th, Bitcoin now accounts for only 36% of the total cryptocurrency market cap.
Ethereum exceeds the maximum offer level to recover the second point in the ranking
Ripple and Ethereum continued to jump for second place in the top of the market rankings, and following an Ethereum value rally, the game was throat and throat.
The Ripple price reached a 4% increase, a moderate accrual that boosted the average global rate to 2.34 USD and the market limit to 90.6 billion dollars.
Still, this gathering stood obscured by the one of the Ethereum value, which increased by 15% to set a new total value of over 900 USD. Until the time of writing, the Ripple price dropped to 842 USD on Bitfinex, leaving its market cap to 85.2 billion dollars.
At this level, Ethereum is worth barely 5.4 billion dollars lighter than Ripple, which means that a relative increase of 7% should be sufficient to recover the rank of Ethereum as the second most valuable cryptocurrency.
The Altcoins Away at Bitcoin’s Market Share
The Altcoins rally grew into broader markets, raising for the first time Altcoin’s total value of more than 400 billion dollars.
The Bitcoin Cash value increased by 1%, allowing the fourth cryptocurrency to create a $ 2,500 barrier once again. Cardano value grew 12%, rising for the first time in its history by more than 20 billion dollars. The Litecoin price raised by 7% to just below 250 USD.
IOTA and Stellar recorded the best performances among the top 10 cryptocurrencies, with 16% and 32%, respectively. Stellar now has a market cap of 10.3 billion dollars, making it the eighth most valuable cryptocurrency.
The NEM ranked the third with 3% to 1.09 USD, raising its market cap to 9.8 billion dollars, while the Dash price rose eight percent to 1,143 USD for to finish the first 10.