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Usha Yadav
Jun 4, 2022
by Usha Yadav

Bitcoin Now Accounts for 47% of the Total Cryptocurrency Market Cap

Bitcoin

Table of contents

  1. Bitcoin Rose Slightly on Thursday
Major cryptocurrencies were trading in the green early on June 4, even though the global crypto market cap fell 3.50 percent to $1.22 trillion on the previous day. Over the last 24 hours, total crypto market volume fell 12% to $61.66 billion. DeFi's overall volume was $5.35 billion, accounting for 8.68 percent of the entire 24-hour volume in the cryptocurrency market. All stable coins had a volume of $52.18 billion, accounting for 84.63 percent of the whole crypto market's 24-hour volume.

Bitcoin is currently trading at a price of more than Rs 24 lakh. According to data from CoinMarketCap, the world's most significant cryptocurrency market domination gained 0.09 percent to 46.31 percent in the last day.

Bitcoin Rose Slightly on Thursday

Bitcoin rose slightly on Thursday after falling with the stock market, but it ran into resistance at the $30,000 level, where it has been trading for the previous month. Since the collapse of the TerraUSD stablecoin caused a broad crypto selloff in early May, Bitcoin has only momentarily departed from the $30,000 level.

"The technical prognosis is at best neutral, and before any optimistic outlook can be established, Bitcoin must trade back over $40,000."

Bitcoin had mounted a mini-rally to start the week, climbing to a three-week high of $32,359 on Tuesday, giving investors hope that it would continue to rise. As the Federal Reserve and other central banks raise rates to tackle stubbornly high inflation, cryptocurrencies have taken a knock.

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Bitcoin Now Accounts for 47% of the Total Cryptocurrency Market Cap
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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