What is the total market of Cryptocurrency worth right now? It may surprise some to hear that the market cap has exceeded the $420 billion level for the first time in seven weeks: the emerging coin market has increased at a robust pace over the previous two weeks driven by prompt growth in altcoin prices. The traders are attributing the bull-run to the end of tax season and increasing confidence in cryptocurrency markets.
Bitcoin price rose almost 50% since the start of this month; expanding its market capitalization from $111 billion to $156 billion at present. Altcoins, however, are outperforming bitcoin during the current bull-run.
Ripple (XRP), Ethereum (ETH) and Bitcoin Cash (BCH) have posted substantial gains in the last two weeks. The increase is mostly due to strengthening Asian trader’s confidence in cryptocurrency markets
Bitcoin Cash is the leading gainer among the top ten cryptocurrency coins. EOS (EOS) and IOTA (MIOTA) are the second and third largest gainers, while Stellar (XLM) stands not far behind these top-performing coins. Bitcoin Cash price appreciated in value a staggering 98% in the last week alone. BCH gets support from an upcoming upgrade in its block size from 8 MB to 32 MB.
Although EOS is the second top performer during the last week, it is the best performing altcoin since the start of this month.
EOS coin rose 53% in the last seven days, and the coin is up more than 120% since the start of this month. EOS coin price trades around $13.40 today, the highest level in the last two months. Its market cap swells to $10.93 billion, and the majority of trading volume comes from OKEx, Huobi, and Bitfinix.
Stellar posted price gains of 32% during the last seven days and its market cap surge to $7.1 billion. The rest of altcoins are also moving, while Tom Lee of Fundstrat Global Advisors LLC predicts a long bull-run for altcoins during the second half of this year and a further increase in cryptocurrency worth.