Market News- The market cap has risen from $908 billion to $1 trillion in less than a week.
- BTC holds the market dominance with 41.7% occupancy.
The market capitalization of the crypto market rose again above $1 trillion after more than a week. The last time the market cap stayed within the $1 trillion limits was on June 26, and from there it went down to $908 billion on July 3. The volume has also increased by around 28%, the volume at present is $82 billion, as per CoinGecko.
When looking into the market dominance, Bitcoin (BTC) is still leading with 41.47% occupancy followed by Ethereum (ETH) with 14.8% hold. Also, the growth of the top cryptocurrencies is giving visible results combined with a buy in dip attitude.
Major Crypto Buyers
The market cap increase definitely has some connection with the crypto top shots or the believers of the crypto technology. Prominent personalities like Michael Saylor were confident and purchased 480 BTC through his MicroStrategy on June 29, which was welcomed by many including Binance CEO, CZ.
CZ stated:
Many may laugh at him now, but Saylor will get the last laugh in time.
Other than individuals, nations are also trying to get profited amidst this low-price scenario. An example of such is El Salvador, the crypto-friendly country that purchased 80 BTC more, expanding its BTC reserve count to 2301.
People did mock the investors who are trying to back up the industry in this crypto winter situation. As per crypto enthusiasts, these buys are only going to pull the market back to stability, along with innovative developments from crypto firms.
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Source: https://thenewscrypto.com/crypto-market-back-to-trillion-with-patrons-help/