Cryptocurrency Market Cap Up $18 Billion: The Crypto Weekly Market Update

This week, unlike many of the previous ones, was full of excitement on the entire cryptocurrency market. For once, Bitcoin woke up from its sleep and staged an impressive performance, gaining about 5% of its Dollar value.

While this may not sound like a lot for a whole week of trading, it’s important to remember that in the days before that, BTC was pretty much stuck in a $200 range. The tightening of the Bollinger Bands, however, played out, and the price took a turn for the best.

Bitcoin is not the only cryptocurrency that saw an impressive performance, though. Ether (ETH) did even better, gaining upwards of 20% during the last seven days, currently trading at above $280.

In general, the total market capitalization surged by over $18 billion. The exciting thing is that Bitcoin’s move didn’t phase altcoins much. In fact, its dominance over the market decreased by almost 1%.

It’s worth noting, though, that if the price of bitcoin continues to increase, this might put a damper on the ongoing altcoin season.

The sudden move of the market might also be attributed to the fact that the Office of the Comptroller of the Currency in the United States, said that national banks and federal saving associations could provide custody solutions for crypto pending approval.

In any case, it remains interesting to see how the next week pans out and whether BTC can continue its run, followed by the booming altcoins.

Market Data

Market Cap: $288B | 24H Vol: 62 | BTC Dominance: 61.2%

BTC: $9,57.18 (-0.10%) | ETH: $281,64 (+2.68%) | XRP: $0.205(-1.32%)

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