After crossing the mark a couple of times this week, today, the cryptocurrency market has dipped below $500 billion. This led to a small correction which is second one this week. However, even though the total valuation is in decline, the market share of the leading cryptocurrency continues to climb.
Bitcoin is currently trading at $10,675 (at press time) with a market cap of $180 billion. On Monday, it crossed the $11,000 mark and recorded a major growth going up to $11,788 on the cryptocurrency exchanges. This was the time when Bitcoin appeared to tumble off a bit and declined by more than $1,000 in a single day. Since this occurrence, investors have been careful.
What’s interesting is that even though there is a decline, Bitcoin continues to increase its market share and keeps the dominance over the other altcoin markets. Currently, more than a third on the crypto market are Bitcoins.
Many altcoins are sinking in this trend. Even 92 of the top 100 cryptocurrencies have recorded declines. Ripple declined by six percent and is currently somewhere below a dollar. Bitcoin cash recorded an eight percent decline too and is now at somewhere over $1,300. NEO is not much better and its tokens are trading at $125.
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