Bulls Taking Over: Digital Currencies Total Market Cap Reaching Almost 500 Billion Dollars

The general market capitalization combined from all the digital currencies that are in circulation in the crypto market is gradually increasing, and it is gradually approaching the $500 billion mark. The same was felt back in March when there was an attempt of digital currencies to reverse the huge losses they saw at the beginning of this year.

Trading Volumes

Crypto trading volumes, after experiencing an increase of more than $25 bln, are now rising and falling irregularly between $25 billion and $30 billion. The market is led by the crypto trading platform – OKEx at a total trading volume of $2.5 billion, the second on the chart is Binance at $2.2 bln, followed by Huobi at $1.7 billion.

The Analysis of Top Digital Currencies

The dominance of bitcoin from 45 percent has drastically declined to 36 percent in April. Ethereum has experienced some tangible gains, increasing from about 9 percent in December last year, to 17 percent now. While the value of bitcoin has decreased by 36 percent from December last year, Bitcoin Cash (BCH) has seen some increase in its value, and also market-share, but it is still under Ripple which presently stands at 7.7 percent.

The Value of Bitcoin Cash

Bitcoin Cash experienced an increase in value against the USD on May 5, 2018, with a double-figure increase of 12 percent up to $1,688, which means the digital currency experienced an increase of about $200 in 24 hours.

This increase might be as a result of the forthcoming much anticipated May 15th Hard-fork upgrade. The second leading and most valuable digital currency, Ethereum (ETH), is currently trading at $808 with an increase of 4.1 percent in the last 24 hours. Since the beginning of March this year, the level hasn’t been altered by the pair ETH/USD – according to coinmarketcap.com.

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