Crypto MarketCap Over $181 Billions, Volume At All Time Highs
Last time we had a total crypto marketcap at this level - more than $180 billion, that is - it was in November last year. So we can safely say that we are now getting back to the previous 5 months ATH.
But, as encouraging as this might be, I think we're missing a piece of the puzzle. And that piece is the daily volume of transactions.
As you can see from this chart taken from Coinmarketcap, we just broke above the previous ATH, which was close to $70 billion / day ($67 billion, to be precise).
The recent spike took the daily volume close over $85 billion, so the actual daily volume increased with more than 25%.
There are a couple of interesting calculations that can be done for the two time points.
- the marketcap / daily transaction volume ratio was 11.3 for the first point, but roughly 2.01 for the second point. This ratio is obtained by just dividing the marketcap to the daily volume (you can do the math yourself, if you want)
- in other words, the previous ATH in volume was made on a marketcap eleven times higher than it, whereas the recent ATH was made on a marketcap just 2 times higher.
While these numbers are clearly indicating a compression of the market value, they are also indicative of the fact that whoever is transacting now is way more invested and active. The bubble may have burst, but whatever is left after that bubble seems to be healthier than ever. And still incredibly relevant in terms of absolute value.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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@dragosroua,
After you pointed this out I have seen it! Seems we all can be get a nice time soon!
Cheers~
Nothing can stop the cryptocurrency revolution
Posted using Partiko Android
Hey, @dragosroua.
This all does sound encouraging. Even if it is much smaller, we do want healthy and active, it seems to me.
It seems like historically STEEM has made some kind of move between April and July every year (while some other spike might happen in addition). Any way to know if this is a precursor to something like that?
Compression sounds like something that happens to a spring, where the energy remains until the latch is released and the spring decompresses. Is that what we're talking about here?
Not a very fool proof one, but it looks plausible to me.
Not necessarily. I think the market was pumped a year ago, and the compression removed the air, leaving only the solid matter, so to speak.
I can sense a positive turn around in the crypto world
For me it is an indication that whales are moving bigger orders but still no entry of new FIAT
Posted using Partiko iOS
Some massive moves on the way !!
Sadly steem is not doing good as compared to the market :'(
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I care more about STEEM price that other crypto these days, but it's still good news to hear.
Volume helps but prices pay. Let's go crypto. Rise!