Cryptocurrecies have enjoyed a bullish market for the last three weeks. On Wednesday, the crypto markets crossed the $500 billion mark. As of today, the market cap for all cryptocurrencies has hit an all high of $514 billion! This is a 1% growth in a 24 hours.
Bitcoin price takes a slight dip
The price of the crypto giant bitcoin however seems to have stalled in the last few days giving way for smaller coins to close the gap. The price of bitcoin took a slight dip yesterday to settle at around $ 16,700.
However, thas not affected the total cryptocurrency market cap as the altcoins have made up for this difference. It is speculated that investors could be shifting their focus to the altcoin market.
Four altcoins record over 20%growth
The altcoin market cap has broken through the $200 billion ceiling this week. Most notable appreciations in price have been observed in the bitcoin forks.
Ethereum price has continued to soar was able to break through the $750 mark this week. However, it has declined as of yesterday it stood at around $711. That is with a market cap of 68.5 billion.
Ripple’s market cap has gone up by 20% which has taken it above $20 billion. Bitcoin Cash has also recorded a 24% gain with a market cap of $33.1 billion. Bitcoin Gold also recorded a 21% growth in its market cap.
23 altcoins have now surpassed the $1 billion dollar mark. This development could signal a shift in interest from the prominent cryptocurrency bitcoin to other digital coins.