Weekly Analysis of Cryptocurrency Market (July 14–21, 2018)

This week (July 14–21, 2018) cryptocurrency market capitalization has shown consistent increase with a commendable rate and as of writing this article equaled $282.18 billion (see below figure). On 14 July, the total market cap was $247.99 billion. On 15 July, it was $256.77 billion and on July 16 it was increased to $271.66 billlion. According to Coinlib, the total market cap on July 21 is

weekly-analysis-of-cryptocurrency-market

Now the dominance of the trendsetter cryptocurrency Bitcoin (BTC) as of writing has been increased to 45% from 43%. On July 17, the bitcoin dominance was decreased to 40% from 43% but on July 20 the BTC dominance was increased to 47%.  It again went down by 2% and as of writing this article it is at 45%. Ethereum (ETH) dominance was decreased to 17%. It was consistently 17% on July 15 ,16 and 17. It again increased to 18% on July 18. ETH dominance is showing fluctuating behavior and as of writing this article it is at 16%. Ripple (XRP) was at 7% last week but this week it went down by 1% and as of writing this article it is at 6%. Despite the overall fluctuation in cryptocurrency market capitalization,  growth of average 2% was seen this week in the prices of Bitcoin. 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 14 July, the total volume of cryptocurrency was $6.02 B. It showed tremendous increase on 18 July and it was $16.10 B but after that it showed consistent decrease at regular interval and on 21 July the total volume is around $10.58B. 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. If you closely observe this, Bitcoin market cap is 127.10 B(45%), Ethereum market cap is $47.06 B (18%), Ripple(XRP) market cap is 17.89 B( 6%), market cap of others is $31.08B (11%), Bitcoin cash $13.73B(5%), EOS $7.29 B(3%), Litecoin $4.96B (2%), Stellar $5.42 B (2%), Tether $2.65 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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