Crypto Market Cap Surges Higher Towards $200 Billion

In the latest cryptocurrency news, we are reporting about the total crypto market cap which has recently jumped above the $185 billion level and is constantly gaining pace. The strong rally for Bitcoin was the main trigger here, forcing the price of BTC to go below $6,000 and forcing the market to add a lot of new money in a relatively short amount of time.

Meanwhile, in the coming altcoin news, we see that the influx of cash for Bitcoin also triggered a lot of altcoins to rise and add up to the growing crypto market cap. For instance, EOS price tested the $4.7 level and bounced back and is currently gaining, which is an indicator that it may go above the $5 mark soon. On the downside, the $4.85 level may be the main support for the bulls.

TRON is next as its price formed a decent support base near the $0.0230 mark and climbed higher days ago. Right now, the price of TRON is contributing to the crypto market cap with gains of more than 5% and recently broke the $0.0240 and $0.242 resistance levels – indicating that a near break above these barriers is close and could start a new upward move.

Cardano (ADA) is another cryptocurrency featured in the altcoin news for its recovery. Currently, ADA  is climbing above the $0.0650 level and must clear the 0650 level and must clear the $0..
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0685 and $0.0690 levels before going in a positive zone. However, traders desire a move to the $0.0700 region so that its contribution to the crypto market cap could be greater and it could rise dramatically – eventually reaching a $200 billion market cap.

It seems that a new bullish trend is near us as Bitcoin is growing to $5,928 with a 4% daily increase. Ethereum (ETH) had a solid climb of 10%, adding more than $8 billion in daily trading volume to the crypto market cap. While Bitcoin’s dominance is at 55.7%, the total cryptocurrency market cap is now coming closer to $190 billion before it tests the $200 billion mark.

As many best cryptocurrency news sites reported, the growing crypto market cap is a sign that the market is relatively stable and fueled by institutional money. New price outbreaks are expected in the short run.