Tag: Total Market Cap

Crypto Markets Add $170 Billion in a Day as Bitcoin Explodes Above $41K (Weekend Watch)

by CryptoPotato

After more than two weeks of trading below $40,000, bitcoin finally made a decisive move to reclaim that coveted level. The entire crypto market followed suit with massive daily price increases from Ethereum, Binance Coin, Cardano, Sollana, Polkadot, and many others.

Bitcoin Surged $4K

It was on January 20th and 21st when the primary cryptocurrency slumped below $40,000 for the first time in months. In the following few weeks, the asset failed to recover most of the losses and even dumped to its lowest price point since late July beneath $33,000.

However, it started to add some value and challenged $39,000 several days ago, as reported. It was rejected at first, and the bears pushed it below $37,000 almost immediately.

This is where the situation changed, though. While trading between $37,000 and $38,000 yesterday, bitcoin went on a tear and exploded above $40,000 for the first time in over two weeks.

It only kept climbing in the following hours, and BTC is now situated at around $41,500. This means that the cryptocurrency is up by $4,000 since yesterday. As a result, its market capitalization, which had dumped beneath $700 billion just days ago, is now close to $800 billion.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts With Massive Gains

As it typically happens when bitcoin goes through enhanced volatility, so do the altcoins. Ethereum struggled to remain above $2,000 just days ago. Now, though, the second-largest cryptocurrency trades above $3,000 after another 7% daily increase.

Binance Coin, Polkadot, Terra, Avalanche, MATIC, and Shiba Inu have also surged by double digits since yesterday. A bit more modest gains come from Cardano, Solana, Ripple, Dogecoin, and CRO.

As expected, the lower- and mid-cap alts have displayed even more significant fluctuations. Gala leads the way with a 30% surge, followed by LEO (25%), JUNO (20%), The Sandbox (18%), NEAR Protocol (16%), Mina Protocol (16%), THETA Network (15%), Loopring (14%), THORChain (14%), and many others.

Ultimately, the cumulative market cap of all crypto assets has increased by about $170 billion since yesterday’s low to above $1.9 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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$200 Billion Gone From Crypto Markets as Bitcoin Dumped to 6-Month Low (Market Watch)

by CryptoPotato

Bitcoin dropped by more than $5,000 in hours and dumped to its lowest price point in roughly six months. The altcoins are also deep in the red, with Ethereum sliding below $4,000 and the entire market cap losing about $200 billion in a day.

Bitcoin Dumps to a 6-Month Low

After the past several days of gradually decreasing in value and calming around $42,000, the primary cryptocurrency finally initiated an impressive leg up. It shot up by $1,500 in hours and touched a multi-day high at $43,500.

As the bulls were preparing for another increase, the bears came to play and changed the landscape vigorously. Bitcoin started to lose value massively and dumped to $40,000. However, the worst was yet to come.

In the following hours, BTC lost that coveted resistance line and kept plunging. This time, it plummeted to $38,250, which became the lowest price level since August 5th, 2021.

Somewhat expectedly, this enhanced volatility caused pain for over-leveraged traders, with the liquidations rising above $700 million in a day.




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As of now, the asset has recovered some ground and stands around $39,000. However, its market capitalization has suffered quite a bit and is now beneath $750 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins in a Sea of Red

The altcoins also jumped in value yesterday, but as with bitcoin, it turned out to be a false breakout. As of now, the entire alt landscape is in red.

Ethereum touched $3,200 yesterday but an 8% slump has driven the second-largest cryptocurrency to under $2,900. Binance Coin (-8%), Cardano (-8%), Solana (-9%), Dogecoin (-7%), Avalanche (-9%), Shiba Inu (-7%), MATIC (-7%), and Ripple (-7%) are all well in the red on a daily scale.

NEAR Protocol and Algorand have lost even more value on a daily scale, dropping by 13% each.

Even more price losses are evident from SCRT (-20%), LRC (-15%), POKT (-14%), QNT (-14%), RUNE (-13%), Gala (-12%), AAVE (-11.5%), ZEC (-11.5%), and many others.

Ultimately, the cryptocurrency market capitalization went down by $200 billion from yesterday’s peak at $2.050 trillion to below $1.850 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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$300B Gone From Crypto Markets in 3 Days: Bitcoin Dipped Below $41K (Weekend Watch)

by CryptoPotato

Bitcoin’s situation worsened once more hours ago as the asset dropped to a new three-month low beneath $41,000. Most altcoins are in a similar position today, and the overall losses from the past three days grew to $300 billion.

Bitcoin’s Latest 3-Month Low

It’s safe to say that the primary cryptocurrency has seen better days. In fact, they weren’t all that long ago as it traded at $47,000 on Thursday and even tried its hand at $48,000 on Wednesday.

However, the bears took complete control in the following 72 hours. Firstly, they dumped BTC by $4,000 before another drop drove the asset below $42,000 on Friday, as reported.

Yesterday seemed like a consolidation day as bitcoin stood around $42,000 for a while. However, this didn’t last long as BTC dived once more. This time, it fell to $40,500, which became the lowest price line since late September 2021.

As of now, the cryptocurrency has recovered some ground and stands approximately $1,000 higher. Nevertheless, its market capitalization is still below $800 billion.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins Keep Dumping

The alternative coins have suffered just as badly as BTC, if not worse. Ethereum stood above $3,800 days ago, but now it’s just over $3,100 after another 3% decline since yesterday.

Binance Coin is down by 5.5% and struggles at $430. Solana (-4%), Cardano (-6%), Ripple (-3.5%), Polkadot (-5.5%), Terra (-1%), Avalanche (-5.5%), Dogecoin (-4%), Shiba Inu (-5%), and MATIC (-6%) are also deep in red.

Chainlink, yesterday’s best performer, is the only larger-cap alt that has endured this market correction without substantial losses.

In contrast, further losses come from Fantom (-12%), Oasis Network (-11%), Helium (-11%), NEAR Protocol (-11%), Zcash (-10%), Ravencoin (-10%), Gala (-10%), Loopring (-10%), and many others.

The cumulative market cap of all cryptocurrency assets is down to $1.950 trillion. This means that the metric has lost roughly $300 billion since the correction started three days ago.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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$200 Billion Evaporated From Crypto Markets as Bitcoin Drops to 3-Month Low (Market Watch)

by CryptoPotato

After consolidating around $47,000 for several days in a row, bitcoin dumped by double-digit percentages in the past 24 hours to a three-month low beneath $43,000. The altcoin space is also deep in the red as the entire market cap lost $200 billion in a day.

Bitcoin Plummets Hard

The past several days seemed quite untypical for bitcoin as the asset remained relatively still around the $47,000 mark. A few exceptions came and disappeared quickly when the bears halted each attempt to go higher rather quickly.

However, it all changed in the past 24 hours. As BTC stood around $47,000 again, it started to lose value rapidly. In a matter of hours, it dumped by more than $5,000 and dropped to an intraday bottom of $42,500.

This 11% daily decline meant that BTC reached its lowest price line since September 30th, beneath $43,000. As of now, it has added a few hundred dollars, but it’s still below that particular line.

Moreover, its market capitalization has decreased to just over $800 billion. This correction coincided with similar price developments in the stock markets following a Fed announcement in regards to its balance sheet.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins See Nothing But Red

As it generally happens when BTC heads south vigorously, so do the altcoins. Ethereum dabbled with $3,800 for a few days before the market-wide correction pushed the second-largest crypto down to its current price line below $3,400, meaning a 12% daily decline.

The rest of the larger-cap alts have lost similar percentages in a day. These include Binance Coin, Solana, Cardano, Ripple, Polkadot, Terra, Avalanche, Dogecoin, Shiba Inu, and MATIC.

The situation with the lower- and mid-cap alts is quite identical. Curve DAO Token (-19%) leads the way, followed by Loopring (-18%), ICP (-18%), Axie Infinity (-17%), Compound (-17%), Tezos (-16%), SushiSwap (-16%), and many more.

Ultimately, the cumulative market cap of all digital assets lost roughly $200 billion in a day, and the metric is down to just over $2 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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After the Dump: Crypto Markets Recover $300 Billion, Bitcoin Eyes $50K

by CryptoPotato

After yesterday’s massive crash, bitcoin bounced off and added nearly $8,000. Most altcoins are also well in the green now, with Ethereum reclaiming $4,200 and Terra surging to yet another all-time high.

Bitcoin’s Recovery Attempts

The cryptocurrency industry is well known for its highly volatile price movements and yesterday was a prime example of that. Bitcoin, for instance, traded around $58,000 after getting rejected at $59,000 a few days in a row when the landscape changed vigorously.

The asset plummeted in the following hours to a daily low of $42,000 (on Bitstamp), prompting many industry experts and analytics to speculate on the possible reasons behind this $16,000 drop.

Nevertheless, bitcoin reacted somewhat positively after touching the $42,000 bottom. It bounced off to around $47,000 initially and another leg up hours later drove it to just shy of $50,000.

So far, BTC is unable to breach that level, but it’s still about 5% up on the day, and its market capitalization has risen well above $900 billion.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins in Green After the Bloodbath

The altcoins suffered even more than bitcoin yesterday. Ethereum went from nearly $4,700 to around $3,500. Now, though, the second-largest cryptocurrency trades around $4,200 after a 7.5% daily increase.

Binance Coin also fell hard, but a similar increase has driven it to above $570. Solana (3%), Cardano (2%), Polkadot (2%), and Shiba Inu (5%) also see some daily gains.

Even more impressive recoveries come from Ripple (12%), Dogecoin (8.5%), and Terra (30%). Consequently, LUNA even painted a new all-time high earlier at just under $80.

More daily increases are evident from Livepeer (22%), Loopring (20%), Elrond (20%), Quant (18%), Decentraland (18%), Enjin Coin (17%), Holo (16%), THORChain (15%), The Sandbox (12%), Helium (12%), and many more.

As such, the cryptocurrency market capitalization has recovered over $300 billion since yesterday’s low of $2 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Crypto Markets Dump $200 Billion as Correction Deepens

by CryptoPotato

Total crypto market capitalization has shrunk by $216 billion since yesterday in a fall that has dropped it to just below $2.78 trillion according to CoinGecko.

The massive wipe-out is the second of its kind this month after leveraged derivatives traders were liquidated on Nov. 11 resulting in a $125 billion slump.

On-chain analyst Dylan LeClair has again fingered leveraged positions for today’s massive slump.

The total market cap has now fallen back to early November levels as major crypto assets continue correcting from their recent all-time highs.

Bitcoin Leads the Drop

Bitcoin is leading markets into the red during the Tuesday morning Asian trading session. BTC has lost 7.3% over the past 24 hours in a fall to around $61K at the time of writing.

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BTCUSD_2021-11-16_09-33-14
Chart by TradingView

The king of crypto has retreated 11.6% from its Nov. 10 all-time high of a touch over $69K. Pricing models such as stock-to-flow are still predicting larger gains for Bitcoin before the end of this year with a target price of $135K painted.

Despite this latest loss, BTC has still more than doubled in price since the beginning of the year when it was trading at around $29K. According to Tradingview, there is support at the 50-day moving average which is around the $58,800 price zone.

Bitcoin’s fall comes just a day or so after its Taproot privacy upgrade went live with no issues.

Altcoins Bleeding in Crypto Plunge

As usual, the rest of the crypto market is being dragged down by big brother. Ethereum has retreated 8% on the day in a tumble to $4,329 at the time of writing. ETH has now lost 11.2% from its all-time high of $4,878 also on Nov. 10.

The altcoin market is a sea of red at the moment with no token in the top 50 making a gain today. Binance Coin, Solana, Cardano, XRP, and Polkadot have all lost between 6% and 11% over the past 24 hours.

Larger losses are being felt by other altcoins such as Litecoin (LTC), Chainlink (LINK), and Crypto.com (CRO) which have all decreased more than 12% on the day.

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Cryptocurrency Market Cap Paints a New All-Time High Above $3 Trillion

by CryptoPotato

Positive market momentum during Monday morning’s Asian trading session has resulted in a 3.1% gain for the total crypto market capitalization.

According to analytics website CoinGecko, this has pushed it to an all-time high above $3 trillion at the time of writing.

The total market cap has increased by 8.4% over the past seven days and 25.5% over the past 30 days. Since the beginning of 2021, it has surged a whopping 284% from $775 billion on January 1st.

A Quarter of The Gold Market

Crypto markets are now larger than the world’s largest company by market cap, which is Microsoft with $2.5 trillion, according to Companiesmarketcap. It is about a quarter the size of the gold market cap, however, which stands at $11.5 trillion according to the market cap tracker.

Bitcoin, which has made 6.9% on the day, has a market cap of $1.12 trillion and a market share of 41.3%. It is about the same size as Tesla but slightly smaller than the Silver market cap, which is $1.36 trillion.

Ethereum has a $560 billion capitalization and is now larger than JPMorgan Chase, which has $496 billion. The third-largest crypto asset by market cap is Binance Coin which has $107 billion at the time of writing.

Crypto Movers and Shakers

CoinGecko is reporting a 24-hour volume of $138 billion, which is the same as the total market cap was in March 2019.

Ripple’s XRP is the top ten’s top mover with a 9.8% gain on the day, propelling the token to $1.27. It has been knocked down the charts recently, however, and currently sits below Cardano in seventh.

Avalanche (AVAX) is also making moves at the moment, with 13% added to the top $95 and printing a new all-time high.

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Number of Crypto Users Doubled in Just 6 Months: Survey

by CryptoPotato

It seems the number of crypto users has doubled since January 21 this year, according to research on global crypto adoption by Crypto.com. 

The report gathered information from 24 leading crypto exchanges using on-chain data based on various parameters —identifying over 220 million users by the end of June. February and May were the months when the inflow of new users reached their peak: 203 million. 

Altcoin Market Surged Largely Thanks to SHIB and DOGE

The altcoin market also gained considerable growth during the first months of 2021, witnessing an increment in user count to an all-time high. Interestingly enough, the report highlighted that Ethereum outpaced Bitcoin’s growth this year. Just after April’s market crash, Ethereum witnessed a massive institutional interest, which peaked during May and by the end of June.

According to the report, SHIB and DOGE were responsible for the surge in interest in the altcoin market. It is hard to find the exact returns of SHIB, but on-chain data shows DOGE has surged over 3,663% in the first half of 2021.

“The growth we have seen in the first half of 2021 on our platform and industry-wide is very encouraging, and we will continue investing heavily as we pursue our goal of putting cryptocurrency in every wallet.” Said Kris Marszalek, co-founder of Crypto.com

According to a Coinbase report, Ethereum’s trading volume surged by more than 1,400% during the first six months of 2021, catapulting ETH’s trading volume to $1.4 trillion. 

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Is the Crypto Fever Cooling Down?

The crypto market experienced a dramatic boost largely due to institutional adoption. The first months of 2021 were bullish for most currencies, especially Bitcoin, as various hedge fund managers, famous billionaires, and institutional investors viewed BTC as a safe store of value and a replacement for precious metals like gold.

As CryptoPotato reported, Vasant Prabhu, Chief Financial Officer of Visa, says that the crypto fever is starting to cool off as crypto-related transactions through Visa are declining. Transactions were booming in the first two months of Q3, reporting a 47% spike and 56% for online cross-border operations. 

However, some companies are still working to offer innovative services for their users, like PayPal, which recently announced working on a new “Super App Wallet,” that will work to bring “additional crypto capabilities” for users.

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Crypto Market Cap Loses $250B in a Day as Ethereum Slumps Below $3,000 (Market Watch)

by CryptoPotato

The bears’ party continues to fully affect the cryptocurrency market as the total capitalization has lost another sizeable chunk of $250 billion in a day. This comes as BTC dumped beneath $40,000, ETH slumped below $3,000, and BNB came inches away from dropping under $400.

All Red Among the Altcoins

It was roughly a week ago when the altcoins were celebrating with frequent all-time highs. Ethereum was among the leaders as it breached $3,000 and $4,000 in less than seven days. The second-largest crypto continued further north and charted its latest record above $4,400 on May 12th.

However, the ever-volatile nature of the crypto market struck, and prices started to tumble. As a result, ETH lost roughly $1,500 of value to an intraday low of $2,850 reached earlier today. Despite recovering some ground since then, ETH is still 15% down and is below $3,000.

The situation with the other alts is somewhat similar. BNB, which neared $700 a week ago, went down to just over $400 today. Cardano (-16%), Dogecoin (-15%), Polkadot (-8%), Litecoin (-12%), Bitcoin Cash (-15%), Chainlink (-5%), and Uniswap (-15%) are also deep in red.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

As the graph above demonstrates, Polygon (MATIC) is the only coin trading in green. The asset is up by another 10% in the past 24 hours and reached a new ATH at over $2.4 earlier.




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In contrast, Nexo (-30%), Revain (-23%), SHIBA INU (-23%), Telcoin (-23%), BakeryToken (22%), PancakeSwap (-22%), OKB (-22%), Nano (-20%), Horizen (-20%), VeChain (-20%) are just a few of the double-digit losers.

Naturally, the cumulative market capitalization of all crypto assets went down to its lowest level since late April at $1.850 trillion. As such, the metric had lost roughly $700 billion from its peak a week ago.

Bitcoin Calms Around $40K?

The adverse developments didn’t pass by bitcoin. The primary cryptocurrency was riding high above $58,000 a week ago before it dumped below $50,000 in a matter of days and kept heading south.

The first wave came from Elon Musk and Tesla, as the electric vehicle company stopped receiving BTC payments for its products. Yesterday, reports emerged reiterating China’s negative stance on bitcoin, and the asset resumed its freefall.

Consequently, the cryptocurrency slumped to its lowest price tag since early February of $38,500. Despite bouncing off and currently hovering above $40,000, BTC is more than 10% down on a 24-hour scale.

On a slightly positive side, bitcoin’s market capitalization has increased to over 40% as the altcoins have suffered the market crash even worse.

Nevertheless, the enhanced volatility in the entire market has resulted in over $2 billion worth of liquidations in the past 24 hours. Somewhat expectedly, over 80% of liquidated traders had long positions.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Crypto Market Cap Lost $500B in a Day as Bitcoin Slid to a 2-Month Low (Market Watch)

by CryptoPotato

The announcement from Elon Musk and Tesla resulted in massive price slumps in the crypto market as bitcoin lost more than $12,000 of value in a day to a low beneath $46,000.

All altcoins followed suit, with Ethereum dipping to $3,600, and the market cap had lost roughly $500 billion at one point.

Bitcoin’s Massive Nosedive

Although bitcoin has failed to overcome $60,000 for weeks, the cryptocurrency was actually performing rather well lately. Just yesterday, BTC had reached a high of $58,000.

However, it all changed after Tesla and Elon Musk said they will cease receiving bitcoin payments for their products and services. Somewhat immediately, the asset price slumped by $3,000, but that was just the start of it.

In the following hours, the primary cryptocurrency kept falling to a low beneath $46,000. In other words, BTC nosedived by more than $12,000 in a day and plummeted to its lowest price level since late February.




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According to Bybt, the liquidations in the past 24 hours alone are worth almost $4 billion. Somewhat expectedly, over 90% of them came from long positions.

Despite recovering some ground and currently sitting above $51,000, bitcoin’s market cap dived well below the coveted $1 trillion line. Furthermore, BTC’s market dominance also keeps sliding and is down to 41%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Red Among The Alts

As it typically happens when there’s enhanced volatility with BTC, the altcoins also follow along. Ethereum, the top gainer among the larger-cap altcoins, had just painted yet another all-time high of nearly $4,400.

The adverse developments, though, took ETH by storm, and it plummeted to a low of $3,550 in a matter of hours. The second-largest crypto has bounced off since then and currently stands around $4,000.

Binance Coin was nearing its ATH at $685 yesterday but dumped by more than $100. BNB has also reclaimed some ground and currently sits above $620.

Musk’s favorite meme coin was at $0.55, but it dropped to $0.35. Nevertheless, DOGE has also reacted somewhat positively and is close to $0.45 now.

On a 24-hour scale, Ripple (-8%), Cardano (-3.5%), Bitcoin Cash (-15%), Litecoin (-15%), Uniswap (-6%), Chainlink (-8%), and Stellar (-10%) are also deep in red from the larger-cap alts.

Interestingly, Polkadot has actually gained nearly 5% since yesterday and trades above $40.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

SHIBA INU has lost the most since yesterday after Vitalik Buterin sold a significant portion of his stash. The self-proclaimed Dogecoin-killer is down by 30% to below $0.00002.

Revain (-26%), EOS (-17%), Bitcoin Gold (-17%), Yearn.Finance (-17%), Telcoin (-15%), Ethereum Classic (-15%), Qtum (-14%), and Filecoin (-14%) are just a few more double-digit losers.

During the most substantial price dips, the crypto market cap had declined by roughly $500 billion in a day and was close to dropping below $2 trillion.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Bitcoin (BTC) $ 25,815.92 4.96%
Ethereum (ETH) $ 1,815.63 4.12%
Litecoin (LTC) $ 88.00 6.73%
Bitcoin Cash (BCH) $ 109.03 5.93%