Expand Your Portfolio With Mountanaz (MNAZ), Filecoin (FIL), and Chainlink (LINK)
In the past year, the cryptocurrency space has had a phenomenal value surge, and it is showing no indication of slowing down any time soon.
In the past year, the cryptocurrency space has had a phenomenal value surge, and it is showing no indication of slowing down any time soon.
The cryptocurrency market is booming as the prices of several top coins and tokens are still on the rise. The overall good market sentiment can partly be attributed to the fact that the first Bitcoin-linked exchange traded fund commenced trading on New York Stock Exchange on Tuesday, October 19. A day after that, Bitcoin, the first and largest crypto by market capitalization, set a new ATH price of $66,931. The second largest cryptocurrency, ETH, is also trading very close to its ATH price. Nevertheless, ETH failed to surge higher than $4,362, where it traded on May 12. It did, however, come very close to its ATH, as it traded just $2 below the abovementioned record valuation on October 21. You can imagine that two of the largest cryptocurrencies trading at or nearly at their respective ATH prices means that the total cryptocurrency market valuation was also at its ATH. The total cryptocurrency market valuation reached its new ATH valuation of $2.70 trillion on October 21. While the value has since dropped to $2.55 trillion at the end of Week 42, the cryptocurrency market is still hot and could surge higher anytime.
The total cryptocurrency market capitalization has climbed from $1.48 trillion to $1.66 trillion over the course of last week, but the cryptocurrency market is still in limbo. With no clear sentiment, markets could move in either direction or even continue trading sideways. However, several projects are seeking to benefit from the increased attention, granted to them by token airdrops and important announcements. In addition, many projects are pushing their upgrades to their respective mainnets as summer and the end of Q2 2021 is rapidly approaching.
As we move into Q2, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
As we slowly move towards the end of the turbulent 2020, the expansion of the total cryptocurrency market capitalization seems to be slowly losing steam. Nevertheless, there are several cryptocurrency projects that are issuing updates to their mainnets, rolling out new features or taking part in other important events.
As we progress through Q4 2020, several projects are moving ahead with continued development. May it be a just recently launched coin, an already established exchange-issued token or the world’s first cryptocurrency – this week’s selection of top 3 coins to watch has them all.