2 metrics signal the $1T crypto market cap support likely won’t hold By Cointelegraph


2 metrics signal the $1T crypto market cap support likely won’t hold

Cryptocurrencies broke the $1 trillion market capitalization resistance on Oct. 26, which had been holding strong for the previous 41 days. Despite Bitcoin’s (BTC) modest 5.5% weekly gains, the aggregate value of 20,000 listed tokens increased by 8.5% between Oct. 24 and 31.

Total crypto market cap, USD (in billions). Source: TradingView

The cryptocurrency market was positively impacted by a 6.3% weekly rally in the mid-capitalization stock market index. Some encouraging news accompanied the positive tailwinds from traditional markets.

Weekly winners and losers among the top 80 coins. Source: Nomics
USDC peer-to-peer vs. . Source: OKX
Accumulated perpetual futures funding rate on Oct. 31. Source: Coinglass

Continue Reading on Coin Telegraph



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2 metrics signal the $1T crypto market cap support likely won’t hold

Cryptocurrencies broke the $1 trillion market capitalization resistance on Oct. 26, which had been holding strong for the previous 41 days. Despite Bitcoin’s (BTC) modest 5.5% weekly gains, the aggregate value of 20,000 listed tokens increased by 8.5% between Oct. 24 and 31.

Total crypto market cap, USD (in billions). Source: TradingView

The cryptocurrency market was positively impacted by a 6.3% weekly rally in the mid-capitalization stock market index. Some encouraging news accompanied the positive tailwinds from traditional markets.

Weekly winners and losers among the top 80 coins. Source: Nomics
USDC peer-to-peer vs. . Source: OKX
Accumulated perpetual futures funding rate on Oct. 31. Source: Coinglass

Continue Reading on Coin Telegraph

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