Total Market Capitalization of cryptocurrencies is reaching a two-year high these days.
The situation on the cryptocurrency market is currently more than favorable and along with the price of Bitcoin the total market capitalization is also growing.
The best indicator is the Global chart from CoinMarketCap
The year 2020 is particularly significant, and it is this year that we can see how quickly the crypto market can recover in the event of an unexpected collapse. Not only has the crypto market recovered but it has gained even more popularity and TMC has reached its highest value since May 2018 these days (~$ 400B).
TMC Excluding Bitcoin
As for TMC excluding Bitcoin, it has decreased slightly since the beginning of September, probably due to the increased dominance of Bitcoin and is approaching $ 150B.
Bitcoin’s dominance has been consistently declining from May this year to September, and thanks to the current BTC boom that has boosted the price, dominance has risen again to more than 60%.
In terms of altcoins, the second place still belongs to Ethereum with 11.12% dominance, the third place went to Tether with 4.20%, followed by XRP with 2.84% and TOP5 closes Bitcoin Cash with 1.30%.
Read also: Bitcoin will soon overwrite the high of 2019, Ethereum miners balance records an unexpected dump
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