There is a nine month high today in the latest cryptocurrency news, which makes May 14th a legendary day for the market. As the entire frenzy continues, the meteoric crypto surge has managed to add more than $27 billion in 24 hours, making the prices of many cryptocurrencies visit the green.
In short, Bitcoin breezed past $8,000, Ethereum went over $200, XRP tested the $0.4 levels and Litecoin is stable at $90. The 24 hour volume is at $106 billion right now.
Analysts are now certain that the ice has melted – and that this meteoric crypto surge marks the official end of the crypto winter (even though we marked this end in many posts previously). Anyways, the epic 13% surge for the market and the $27 billion being added pushed the total market capitalization to $240 billion – but later retraced that number to the current $227 billion as the total cryptocurrency market cap.
In the altcoin news, we see that the meteoric crypto surge has had a big impact on the top ten. At the moment, altcoins are stabilizing after the shootout which saw them add more than 20% (XRP) and surge in numbers from 10% to 20% on average.
Not all of the altcoins have been invited to the party, though. The top 20 does not look that optimistic. However, the meteoric crypto surge added a lot of positive sentiment and pushed the daily volume to a record high as FOMO grips the cryptocurrency market once again.
Right now, there are many reasons for this growth. As popular analysts say, it could be the adoption of cryptocurrencies by brands such as Facebook, eBay, Amazon, Microsoft, Whole Foods and Starbucks which went viral in the news stories shared by many best cryptocurrency news sites about their adoption.
Now that there is a stable and positive momentum triggered by the meteoric crypto surge, everyone has their eyes pointed at new heights for the market and a situation that would eventually put it closer to the legendary growth and a total market cap of over $800 billion. That said, the coming altcoin news this week are expected to be featured even more on many crypto currency sites, mostly because a new break is expected.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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