The attached overview from Coin360 illustrates the development of the crypto market over the past 7 days. According to coinmarketcap.com, the total crypto market cap currently stands at $1,186 billion and now numbers 23,830 crypto currencies.
Bitcoin’s market dominance has remained steady at 46.3% over the past week, with Bitcoin’s market cap reaching $561 billion. Ethereum’s (ETH) market dominance has also remained stable at 19%, with the number two coin’s market cap now at $227 billion.
Total market cap consolidates around $1,100 billion
The crypto market started the new month of May as the previous month ended: fairly neutral. April was marked by consolidation around $1,100 billion and this line continued this week as well.
Bitcoin and Ethereum did manage to make a recovery last week, but the $30,000 mark and the $2,000 mark, respectively, could not be crossed yet again.
Currently, the crypto market is making a pass and investors are waiting for new momentum.
Fear & Greed Index climbs
The value of the Fear & Greed Index, compiled by Alternative.me, has continued its upward trend and currently stands at 64 in the ‘Greed’ zone, compared to a value of 59 last week. Investor confidence in the crypto market is still optimistic given its position in the ‘Greed Zone’.