In the past 24 hours, the mother of all coins, Bitcoin price has been battling between settling on the $6400 mark and $6700 mark, but currently it has managed to settle on the $6700 mark. The coin today, have been recording a decent increase in its daily volume.
The high spike in the price of bitcoin also influenced the valuation of the crypto market (i.e the market cap.) from $210 billion to $217 billion, suspected to have being fueled by the short-term surge in the price of tokens.
10-20% increase in the prices of ethereum-based tokens like Wanchain, Aion, and ICON was also observed today. Meanwhile, major digital currencies like ethereum, Ripple, Bitcoin Cash, and EOS, are still struggling to see much gain today. They were only able to see gains within the range of 0.3% – 1%.
In past reports, CCN noticed that the dominance index of BTC, which determines the dominance of the digital currency in the worldwide market, is an important tool to use when measuring the short-term growth and momentum of tokens and small market cap cryptocurrencies.
In the previous seven days, the dominance index of BTC has expanded from 51% to 53.6%, in spite of the recuperation in the price of BTC.
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