The attached summary from Coin360 illustrates the development of the crypto market over the past 7 days. According to coinmarketcap.com, the total crypto market cap is currently around $1,080 billion, slightly higher than last week’s reading.
Bitcoin’s market dominance has increased slightly to around 50% over the past week. In doing so, Bitcoin’s market cap also increased slightly to $536 billion.
The market dominance of Ethereum (ETH) has remained almost the same at 18%, while the market cap of the number two coin has dropped to $194.5 billion.
Bitcoin dominance rises to 50%
The cryptocurrency market has failed to take a boost up for yet another week this past week, still consolidating around $1,000 billion. Bitcoin has also remained steady between the $25,000 and $30,000 mark.
Nevertheless, Bitcoin dominance has risen slightly to around 50% underscoring the importance of the No. 1 coin. Thus, rising BTC dominance means that Bitcoin is outperforming the other 26,000 coins.
Nevertheless, the crypto market is still unconvincing and continues to wait for positive momentum.
Fear & Greed Index rises to ‘Neutral’ position
The value of the Fear & Greed Index, compiled by Alternative.me, rose slightly to ‘Neutral’ level from 46 to 48 over the past week. Last month’s reading was 40 indicates that crypto investor sentiment did increase last month.