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)
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.
— 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.