Capitalization of the crypto market exceeds $1 trillion

This happened due to the rise in the value of bitcoin and Ethereum

18.07.2022 - 13:50

448

2 min

What’s new? The cryptocurrency market capitalization has surpassed the $1 trillion mark again for the first time since June 13. As of July 18, it stands at $1,059 trillion, according to aggregator CoinGecko. This was due to the rise in the value of bitcoin and Ethereum. The BTC rose to a one-month high of $22 430 on the morning of July 18 and is trading at $22 213 as of 13:20 UTC, adding 4,85% overnight, according to Binance. ETH rose to $1481, up 10,11%.

Information on CoinGecko

Which altcoins contributed to capitalization growth? Among notable leaders of the day are Polygon (MATIC) and Ethereum Classic (ETC), which during the day reached $0,9 (+16,85%) and $22,94 (+21,18%), respectively. Avalanche (AVAX) also showed good growth, its price went up by 10,3% to $23,77 and Polkadot (DOT) grew by 6,63% to $7,56.

Short positions totaling more than $160 million have been liquidated in the last 24 hours as a result of the rise in BTC and ETH.

During the second quarter of 2022, the capitalization of the decentralized finance market (DeFi) decreased by 74,6%, from $142 million to $36 million. The reasons were the May collapse of the Terra ecosystem and the increasing hacking of DeFi platforms.

Author: