Home News Cryptocurrency Market Cap Fairly Stable Around $130 Billion While Stocks Take Wild...

Cryptocurrency Market Cap Fairly Stable Around $130 Billion While Stocks Take Wild Swings

It seems that the volatility of cryptocurrency markets has cooled down significantly in the recent days. While global security markets shiver with the shocks of geopolitics, crypto market cap is fairly stable around $130 billion.

March 01, 2019 12:21
Stability
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When we talk about cryptocurrency markets, volatility is one of the first things that comes to mind. Besides decentralization volatility is the only characteristic of these markets which has been associated with them since the beginning. And volatility, as you know, is a double-edged sword. It’s both boon and bane, depending on how perfectly the trader plays with it. However, in recent days it looks like this key characteristic of cryptocurrency markets is slowly going away. In fact, cryptocurrency markets have now become even less volatile than the traditional security markets!

Yep. It may seem difficult to believe, but actually it’s true. Ever since the beginning of 2019 the overall market cap of cryptocurrencies is fairly stable around $130 billion. There had been a slight decline of around 2.15% in the price of Bitcoin after it crossed the $4,000 mark, and it touched the low of $3,787 at one point. However, since then it has since recovered almost 2%. Currently, it’s trading around $3,850 level, which is 0.1% down from yesterday’s closing.

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Ethereum’s story is slightly different though. After making a high of $163 on Sunday it came down to $131 mark today, crashing as much as 19% over the course of last 7 days. Since then it has started recovering a bit, with its price currently hovering around $137. In the meantime, however, major upgrades are planned for the Ethereum network today, which may lead to a rise in the price of Ethereum.

Now as far as third largest cryptocurrency by market cap, namely XRP, is concerned, it’s down almost 6% since Sunday’s high of $0.33, but now it’s also showing some signs of a recovery. In the past 24 hrs it’s up almost 1%.

On the other hand, the major stock markets of the world are much more volatile than crypto markets nowadays. For example, US stock market tumbled yesterday after the talks between US President Donald Trump and South Korean leader Kim Jong-Un fell without any conclusion. At the time of writing this Dow Jones Industrial Average is down 69 points, or 0.27%. S&P 500 is also down 7.89 points, or 0.28%. In our own country India too both BSE and NSE have been highly volatile over the course of last week as tensions escalated with Pakistan. For instance, the day when India announced Air Strikes on Pakistan Nifty closed down by 80 points, and Sensex also took a dip of 257 points.

Now let’s see how it goes for the crypto market today!

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)

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