Weekly Analysis of Cryptocurrencies (August 4–11, 2018)
Cryptocurrencies are full of surprises. This week, market capitalization has a slightly fluctuating trend with a commendable rate equaled $204.98 billion
It’s been a rocky week for most cryptocurrencies, most notably for digital currencies like Bitcoin, Ethereum and Ripple. This week (August 4–11, 2018) cryptocurrency market capitalization has a slightly fluctuating trend with a commendable rate and as of writing this article equaled $206.00 billion (see below figure). On August 4, the total market cap was $249.73 billion. It was drastically decreased by 32.3 billion and on August 8, it was $217.43 billion. According to Coinlib, the total market cap on Aug 11 is $206.00 billion.
Total Market Cap
Now the dominance of the trendsetter cryptocurrency Bitcoin (BTC) as of writing has been increased to 52% from 51%. On Aug 8, its dominance was increased to 53% from 51% but on Aug 9 it went down to 48%. It again went up by 4% and as of writing this article it is at 52%. Ethereum (ETH) dominance was decreased to 16% on Aug 9. ETH dominance is showing fluctuating behavior and as of writing this article it is at 16%. Ripple (XRP) was at 7% on Aug 4 and as of writing this article it is at 6%. The following figures show us the dominance of these three cryptocurrencies respectively.
Bitcoin Dominance
ETH Dominance
XRP Dominance
Now, the total volume of cryptocurrency market has been fluctuating. On Aug 4, it was $12.62 B. It showed tremendous growth and on Aug 8 total volume was $16.96 B but after that within 24 hours it again went down ‘like a house of cards and on Aug 9 the total volume was $13.51B. The following figure is showing us the total volume of cryptocurrency market.
Total Volume
Following image is showing us the top 20 cryptocurrencies by market cap. Bitcoin market cap is 105.49 B(51%), Ethereum market cap is $31.37 B (15%), Ripple(XRP) market cap is 11.59 B( 6%), market cap of others is $19.07B (9%), Bitcoin cash $9.54B(5%), EOS $4.53 B(2%), Litecoin $3.25B (2%), Stellar $3.93 B (2%), Tether $2.42 B (1%).
Top 20 Cryptocurrencies
The cryptocurrency market is full of surprises and overhyped assets. Do your research before buying anything.
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Prasanna Peshkar
Prasanna Peshkar is a seasoned writer and analyst specializing in cryptocurrency and blockchain technology. With a focus on delivering insightful commentary and analysis, Prasanna serves as a writer and analyst at CryptoTicker, assisting readers in navigating the complexities of the cryptocurrency market.
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