Weekly Analysis of Cryptocurrency Market

This week (July 7–14, 2018) cryptocurrency market capitalization decreased, and as of writing this article equaled $247.99 billion (see below figure). The drop compared to the start of the week equals around $23.23 billion. The total market cap of Bitcoin is $105.45 B, Ethereum market cap is $43.95 B and that of Ripple is $17.19 B. According to Coinlib, the total market cap is

Total Market Cap

Now the dominance of the trendsetter cryptocurrency Bitcoin (BTC) as of writing has been increased to 43% from 42% while Ethereum (ETH) dominance has increased from 17% to 18% and Ripple (XRP) is consistent at 7%. Despite the overall reduction in cryptocurrency market capitalization,  growth of 1% was seen this week in the prices of Bitcoin and Ethereum while Ripple was stable at 7% .The following figures show us the dominance of these three cryptocurrencies respectively.

Bitcoin Dominance

ETH Dominance

Ripple Dominance

Now, the total volume of cryptocurrency market has been fluctuating. On 7 July, the total volume of cryptocurrency was $7.03 B. It was increased on 10 July and it was $9.86 B but after that it showed consistent decrease at regular interval and on 14 July the total volume is around $7.28B. The following figure is showing us the total volume of cryptocurrency market.

Total Volume 14 July

Following image is showing us the top 20 cryptocurrencies by market cap. If you closely observe this, Bitcoin market cap is 107.62 B(43%), Ethereum market cap is $44.17 B (18%), Ripple(XRP) market cap is 17.12 B( 7%), market cap of others is $29.79B(12%), Bitcoin cash $12.26B(5%), EOS $6.35 B(3%), Litecoin $4.49B (2%), Stellar $3.74 B (1%), Tether $2.70 B (1%).

Top 20 cryptocurrencies by market cap

The cryptocurrency market is full of surprises and overhyped assets. Do your research before buying anything.

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