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Capitalization of Cryptocurrency Markets Loses 59% in Q1 2018

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Since the start of January 2018, the combined crypto markets have dropped by 59 %. In a single month, the BTC markets slumped by approximately 66%, after the high of $17,500. This established 2018’s current low of roughly $5,900 on the 6th of February. Then in just 2 weeks the price almost doubled before failing to break above resistance at just below the $12,000 area twice. The failure to break resistance precipitated a drop of approximately 40% during March. BTC prices are currently hovering at approximately $6,500.

According to Coinmarketcap the total market capitalization of the combined cryptocurrency markets was approximately $610 billion at the start of January. It then quickly rose to roughly $820 billion on January 8th. It excludes data from Korean exchanges.

Breakdown

Since that high of $820 billion, the capitalization of the crypto markets has dropped by almost 70%. It is currently establishing a low of $250 billion for 2018. The market capitalization of bitcoin which was approximately $236 billion at the start of January, has since fluctuated within a range of between $300 billion, and $100 billion. The total capitalization of bitcoin is estimated to be $115 billion as of now.

Despite the heavy losses, the first quarter also saw bitcoin recapture a market dominance of over 40% – with bitcoin boasting a market dominance of approximately 45% as of now.

On the 8th of January, Ethereum reclaimed its position as the second largest cryptocurrency by market capitalization, with ETH growing to hold a market dominance over 14% at the same time as XRP fell to comprise 13% of the markets. Since early January, XRP’s market dominance has oscillated between approximately 7.5% and 10%, steadily holding the position of the third largest crypto by market capital. As of now, Ripple’s market capitalization is $18.2 billion (down from over 75% from $80 billion at the start of the year), with XRP currently trading at $0.455.

 

2018 opened with Ripple ranked as the second largest cryptocurrency by total market capitalization, with XRP boasting a market dominance over 14%. On the 4th of January, Ripple reached an all-time high for market dominance of over 18% whilst establishing record price highs over $3.

 

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