This weekend, the encryption market hit another record high. Bitcoin alone has driven the market to rise overall, and the total value of the encryption market has exceeded $190 billion for the first time since November 2018. However, the market share of the altcoin has been gradually eroded.
A few hours ago, Bitcoin broke through $6,300 and hit a new high this year. Bitcoin never fell below $6,000 after breaking through the market psychological barrier in early trading yesterday. As of this writing, BTC has risen more than 4% on the day. The sharp rise in Bitcoin has caused BTC to reach $18 billion in volume and drive the market value of the currency to more than $110 billion. Bitcoin’s market share has also reached a 17-month high of 58%, the highest level since the surge at the end of 2017.
The significant changes in Bitcoin have driven the price of Ethereum to close to 175 US dollars, but also caused its market share to fall below 10%. At present, the market value of Ethereum is still sluggish.
“This is a perfect rebound. But looking at the market share of the altcoin is not that interesting. — CryptoHamster (@CryptoHamsterIO) May 10, 2019 ”
What are the currencies that are soaring?
Today ABT also performed exceptionally well, with a 40% increase! The ranking rose to 76. Driven by rumors of encryption technology on Facebook, Reddcoin is also skyrocketing, up 18%. Aurora is up 15% today, but it is likely to fall tomorrow, sweeping away the previous gains.
In the falling currencies, WAX fell the most, with a drop of 9%. BNB and Cosmos followed, falling by around 8%.
The total value of the encryption market reached $192 billion, a record high in 2019. On the same day, the total market value of encryption increased by 4 billion US dollars, or about 2%. Of course, this is mainly due to the huge increase in Bitcoin. The daily trading volume of the encryption market has also increased significantly, reaching $54 billion. The next step is to see if the market value can approach 200 billion US dollars.
Remarks: Bitcoin86 manuscript article, please indicate the source. The article is an independent view of the author and does not represent the standing position.