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The digital currency economy is steadily approaching a market capitalization of $ 300 billion, as a large number of coins have made decent earnings. Bitcoin hit a high of $ 10,135 on July 26, during morning trading sessions, but ethereum is outperforming the highest cryptocurrency measured by the market valuation.
At the time of writing, the crypto economy is a force to be reckoned with as a number of digital assets have become more valuable this week. Bitcoin (BTC) fluctuates between $ 9,900 and $ 9,950 during late afternoon (ET) trading sessions.
BTC is up more than 2.3% today, and BTC’s overall market cap is just over $ 182.6 billion. Despite the higher price, BTC’s dominance ratio is lower than in June 2019 at 61%.
BTC hit five digits on Sunday, a price that observers hadn’t seen since the first week of June. Ethereum has outperformed BTC for a long time as the coin is now trading for $ 307 per coin.
ETH is up 3.6% today and 30% in the week compared to BTC’s 7-day gain of 8%. ETH has gained 35% over the past 30 days and around 58% over the past 90 days. A number of speculators believe that Ethereum’s defi and stablecoin boom is pushing the price of the digital asset to new 2020 levels.
Bitcoin cash (BCH) jumped to the $ 253 range on Sunday morning, but the cryptocurrency was down 0.84% at press time. Bitcoin money has risen by 7% for 30 days and by 1.7% in the past 90 days. However, for the 12-month time frame against the USD, BCH is still down 19% this weekend.
BCH has a market valuation of $ 4.5 billion out of BCH’s 18 million outstanding, which is 1.53% of the current cryptocurrency market capitalization of $ 296 billion. At the time of publication, tether (USDT) captures 61% of today’s BCH trades. Followed by BTC (17.50%), USD (5.53%), KRW (5.16%) and TWD (3.40%). BCH is getting a lot of volume from the New Taiwan Dollar (TWD) and ETH pairs are 1.56%.
Top earnings on Sunday include coins like elysian (ELY 61.02%), datawallet (DXT 40.79%), egretia (EGT 31.50%), elrond (ERD 25.12%) and travala (AVA 25%) . The biggest losers today include starbase (STAR -29.16%), zap (ZAP -27.47%) karatgoldcoin (KBC -23.09%), boscoin (BOS -21.54%) and yearnfinance (YFI – 21.31%).
The best performing Simple Ledger Protocol (SLP) tokens today include flexcoin (FLEX 8.4%) and brave sound token (BRST 7.1%), spice tokens (SPICE -1.6%) and Sideshift’s SLP token. ai (SAI -0.12%) on Sunday are both down. Overall, most cryptocurrency traders are bullish, as crypto assets are also outperforming gold, which is above the $ 1900 per Troy ounce zone of .999 gold until Sunday.
ETH hit a high on Sunday that hadn’t been seen for over a year. However, ETH, the second largest crypto asset by market capitalization, is still 78% lower than the all-time high of the digital currency (ATH). It’s been three years since now and three years for BTC too, which is faring better considering BTC only dropped 50.5% from its ATH.
What do you think of this week’s cryptocurrency market action? Let us know what you think about this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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