Cryptocurrency capitalization over $ 300 billion
At the beginning of last year, the total capitalization of cryptocurrencies was only slightly above $ 100 billion. Today we have a value of 300 billion for all cryptocurrencies. New money flows into the cryptosphere.
Over the past year, the total market value of cryptocurrencies increased three times. The market shows a clear upward trend and there is practically no doubt that the bear market is over. Of course, from a technical point of view, we have to wait for a breakdown of $ 20,000, but the market indicates a really strong upward trend. For rise in cryptocurrency capitalization is also responsible for the relatively strong growth of altcoins. These mostly rise from deep downs, which often amounted to losses of over 90%. Such growth is called “altseason”. The current rise, however, would rather deserve the name of the revival of the Altcoins, because the fall they experienced was really drastic.
BTC dominance (the share of BTC’s market capitalization in the total capitalization of all coins) is still above 60%, although it shows a downward trend. The inflow of capital into the Altcoins drives overall market capitalization upwards faster than the BTC. If you put a million dollars into the BTC, the price will hardly move, but if you put a million dollars into smaller altcoins, their capitalization will fire like a rocket.
Top 5 Great Altcoins in the Last Week
In the next section, we will look at the TOP 5 large altcoins, which this mini “altseason” so far best demonstrates. Only projects with a capitalization of more than $ 1 billion are included in the large Altcoins.
Tezos is the clear winner in the last week. Tezos is a smart contract platform similar to ETH, Cardano, EOS and more. Tezos has become one of the greatest ICO history. The project raised $ 228 million and since its inception, ICO has brought investors a dollar profit of seven times the amount invested.
Right behind is Chainlink. Network of decentralized oracles. Now oracles desperately misses most projects, because blockchains have no way to communicate with the outside world and this changes oracles. In the Chainlink network, nodes will draw data from, for example, traditional, stock exchange systems and convert the data into a blockchain. This is important, for example, for smart contracts to be able to operate with real-world data.
Binance coin placed third. Mysterious Binance cloud project should be launched this week. Virtually all stock coins performed well, and so we see the Huobi token. There would also be an Okex (OKB) token, but it does not have the total market capitalization indicated, so it cannot be calculated.
The whole ranking closes Ethereum, which is in 2020 to finally launch its version 2.0. This will transform the core of the system and make ETH 2.0 a PoS network instead of the current PoW.
Google trends signal investors interest
Google trends show an interesting increase in the search for the phrase “Buy Bitcoin”. It has been on a constant rise for one year. This shows the interest of retail investors in Bitcoin.
Especially important is the comparison with 2016 and early 2017. If we are in 4-year cycles, we will now be at the 2016 level. And according to Google Trends data, we are currently two- to threefold interest in BTC (relative to 2016 and beginning 2017).
This tendency shows that Bitcoin is becoming an increasingly stable part of the mainstream. The awareness of Bitcoin as a store of value and the king of digital currencies is on the rise. Recently, the mainstream television station CNBC has again noticed a rise in prices. It brought news of a rise above $ 10,000 and according to commentators, this is the beginning of a bull run, which will be driven by institutional activity.
North Korea is expanding its cryptomining
Recorded Future portal reported in its report that North Korea uses three ways to generate revenue over the Internet. Exploiting cryptocurrencies and blockchain technology, online banking crimes and low-level information technology breaches. North Korea is suspected of hacking South Korean cryptocurrency exchanges, as well as engaging in cryptojacking and cryptocurrency mining.
North Korea is in financial isolation and is trying to circumvent sanctions from the United States of America through cryptocurrency.
Central bank cryptocurrencies will help Bitcoin, Silbert says
Bitcoin will benefit from national regulated cryptocurrencies that are planned to be issued by central banks. This is what Grarycale Investments founder and CEO Barry Silber thinks. He pointed to the results of a new survey published by the Bank of International Settlemens, according to which it is likely that up to 10% of the world’s central banks will issue their national cryptocurrency “in a short time”. “At some point in the future, we could have 80 different CBDCs. If this happened, it would generate a huge amount of investment in financial system operators, where every financial institution would have to be able to safely store and trade these cryptocurrencies. And when they really build the infrastructure, the same infrastructure can be used for non-centralized currencies like Bitcoin. ”
Trump wants the CIA under the ministry of finance. It also focuses on cryptocurrencies.
Draft US Budget for 2021of US President Donald Trump’s of $ 4.8 trillion counts on the unification of the secret service with the US ministry of finance to streamline computer and financial crime investigations. It also applies to cryptocurrencies.