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Bitcoin (BTC) Market Cap Cracks $100 Billion As Crypto Rally Heats Up and Gold Remains Down – Ethereum, XRP, Bitcoin Cash, Litecoin, EOS

by Daily Hodl Staff
May 3, 2019
in Altcoins

The total market cap of all cryptocurrencies popped $10 billion in just eight hours on strong trading volumes, from $177.4 billion to $187.6 billion, according to data compiled by CoinMarketCap. Bitcoin (BTC) leads, surging from $5,456 to an annual high of $5,864, with a market cap of $103.4 billion.

BTC dominance has peaked at 55.1%, reaching its highest level in 2019, as crypto traders sell altcoins to increase their position in Bitcoin.

Percentage of Total Market Cap (Dominance)
Source: CoinMarketCap

Bitcoin trading volume on Messari’s ‘Real 10’ volume index, which tracks BTC volumes from a select group of 10 exchanges, including Binance, Coinbase Pro, Kraken and Gemini, has surged to $833.9 million, up from $671 million on April 23.

Litecoin leads the charge among the top 10 coins, up 8.88% within the past 24 hours to $80.24. Bitcoin Cash is second, up 7.86% to $296.35, followed by EOS, up 7.63% to $5.09. Ethereum is up $5.34% at $169.72 and XRP is up 2.78% at $0.3120.

Gold is currently trading at $1,270 per ounce, declining 5.6% since February.

On Wednesday, Grayscale launched their #DropGold campaign, releasing a TV commercial to highlight gold’s lack of portability. More than a hashtag, the company says it’s educating investors about Bitcoin and why it believes the digital economy will not favor heavy gold bricks.

Why #Bitcoin? In short, it offers all the good qualities of #gold but in a better way. Interested? Learn more by checking out https://t.co/BxUjYaBJ8q #DropGold

— Grayscale (@GrayscaleInvest) May 2, 2019

At time of writing, the total crypto market cap is currently $187.4 billion, with BTC up 6.5% to $5,849.

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