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Weekly cryptocurrency digest: 81% — grew, 19% — fell

Margareth Nail

Last week the cryptomarket capitalization increased by more than a quarter. The main reason of that is the growth of Bitcoin and big altcoins, though some cryptocurrencies could not support this trend. Read Bitnewstoday weekly digest to see what happened to cryptocurrencies last week.

Market capitalization increased

During the period from April 9 to April 15 the aggregate value of all cryptocurrencies in turnover grew up from $264,3 bn to $333,4 bn, increasing by more than 26%. Altcoins capitalization increased by more than a third and reached the numbers of March — almost $193 bn.

Notice that Bitcoin’s share in the total cryptomarket capitalization continued to decrease over the past week. Over the period analyzed, the share of the main cryptocurrency decreased from 44,88% to 41,20%. Other big coins which capitalization declined are Bitcoin Cash (from 4,21% to 3,89%) and Litecoin (from 2,48% to 2,14%).

CryptocurrencyApril 9, 2018 April 15, 2018Changes
Bitcoin 44,88% 41,20% -3,68 p.p
Ethereum 14,87% 15,13% 0,26 p.p.
Ripple 7,33% 7,70% 0,37 p.p.
Bitcoin Cash 4,21% 3,89% -0,32 p.p.
Litecoin 2,48% 2,14% -0,34 p.p.

Table 1 — Changes in proportions of prominent cryptocurrencies within the total market capitalization
Source: Bitnewstoday’s calculation based on data by Coinmarketcap

By the end of the week, the following cryptocurrencies entered the TOP 10, based on the share in the market capitalization: EOS (1,93%), Cardano (1,78%), Stellar (1,6%), IOTA (1,32%), NEO (1,31%).

Pic. 1 Cryptomarket structure
Source: Bitnewstoday’s calculation based on data by Coinmarketcap

Growth records

Small cryptocurrencies showed growth records over the last week. Thus, Greencoin (its capitalization is near $4m), which entered the market back in June 2014, increased its price from $0,00015 to $0,001189 (nearly eight times) over the past seven days. But its price decreased to $0,001007 on Monday, at the time of writing.

Virtacoin’s price grew 3,5 times — from $0,000029 at the opening of exchanges on April, 9 to $0,000101 at the closing on April, 15. This coin is on the market since 2014, but its capitalization is only $0,7m.

Pure coin also demonstrated a record growth — from $0,218413 to $0,743043 (the price increased almost 3,4 times). This coin is relatively new, and it entered the exchanges early last year. The aggregate value of all Pure is estimated at $4,2m.

How did leaders’ prices change?

All considerable coins from top 20 increased in the value. The largest growth has shown IOTA (by 52%), Cardano (44%) and NEM (42%).

This week Litecoin and Binance Coin were not so lucky. The cost of these coins increased only by 6,21% and 2,74% respectively.

The price of Bitcoin was increased by 14,71%. The most significant coin has been growing through the whole week, and on April 15 was able to break through $8,000. What is more, experts predict that the cost of cryptocurrencies will continue to grow.

Who had a bad week?

The prices of cryptocurrencies were mostly increasing last week, yet 19% of them could not maintain this trend and lost their value. Thus, BitSoar (BSR) lost 99% of its value - from $0,120833 to $0,000835. BSR began to trade not long ago - since the end of 2017.

LendConnect’s price fell by 72% to $0,052427. This is another new coin, which came to the market in January 2018. For now its capitalization amounts to $113,300 only.

The price of Hexx (HXX) coin dived significantly. At the opening on April 9 it cost $3,92, then it’s price skyrocketed to $8. By the end of that day, $6,18 were offered for one HXX. But after reaching this level, it’s price started to plummet and by April 15 it cost only $2,91 at the exchange.

The last week turned out to be successful for many cryptocurrencies, which is due to the absence of any broad negative statements from regulatory authorities. Market experts hope that this week cryptomarket will continue to grow.

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