Crypto Market Cap Regains $133 Billion In One Week
According to data from CoinMarketCap, the global crypto market has recovered over $130 billion. This increase comes amid the ongoing crypto winter that has shaken the sector.
Despite the unstable crypto market, digital currencies have been relatively stable this past week. However, analysts predict that more drops are coming.
Total Global Crypto Market Valuation Climbs By Over 15%
Surprisingly, the total crypto market valuation has climbed in the past week. On June 18th, the total crypto market cap was $832 billion.
However, as of June 25th, it has increased by over 15.99% to about $965 billion per CoinMarketCap data. This signifies an increase of $133 billion.
Currently, Bitcoin is leading the global cryptocurrency market based on inflows. As of the time of writing, BTC’s trading price is about $21,242. This is an increase of over 2.29% in the last day and 10.28% in the last week.
Notably, the flagship currency, BTC, has also increased in market valuation in the past week. It has increased from $338 billion to about $408 billion.
Although Bitcoin has maintained the $20,000 level, the weekend might turn out differently. The support of BTC continues to reveal distress signals. As a result, if it loses its grip, the currency might fall towards the $18,000 region.
Despite the ongoing decline in the crypto market, experts are looking for bullish signals. Other analysts are also looking for major market indicators that would signal the next dip.
Ethereum Test The $1,200 Mark As Other Altcoins Enter The Green Region
Bitcoin is not the only currency that was affected by the current market downturn. The second-largest asset, Ethereum, was also affected.
Last week, the digital currency fell below the $1,000 mark. This sent a massive shock across the crypto community. Several sell-offs were recorded during this period.
However, it appears that ETH has regained its footing. On June 25th, the crypto climbed above the $1,200 support level to about $1,223. This was an increase of 6.05% in the past 24 hours.
At the moment of writing, Ethereum is trading at $1,199, down by about 1.18% today. At the start of the day, other altcoins leading the market were ADA and SOL.
However, ADA and SOL dropped by 3.32% and 0.33%, respectively. At the moment, it is uncertain when the crypto winter period will end.
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