The last couple of days hasn’t been too shabby for the cryptocurrency market. The total market cap has risen more than 100 billion dollars in under a single week.
Following the long continuation of falling prices across the crypto market, some investors started to doubt their investments. But it seems the market is starting to turn in a big way as the market has been green ever since the 12th of April. Just in the last 24 hours, almost all cryptocurrencies are up with many hitting double-digit percent increases.
The sudden increase in the market comes after a surge in trading volume and some optimistic news regarding the future of cryptocurrency and exchanges. Some established institutions are also getting into the market which not only helps with trading volume but also sends a message to the public about this being a legitimate market.
One of the notable coins today in terms of gains is Ripple (XRP), which is up almost 20% in the last 24 hours, now valued at $0.86 per XRP according to Coinmarketcap.
IOTA (MIOTA) is also up more than 11% in the last 24 hours now valued at $1.89 according to Coinmarketcap.
A thing to notice in the current market is the rapid decrease in Bitcoin dominance. Just 8 days ago, Bitcoin made up almost 44% of the entire cryptocurrency market, but at the time of this writing only makes up 38.6%.
Source: https://coinmarketcap.com/charts/#dominance-percentage