Crypto Market Volume Decreases By 1.5% Over First Week Of March
The volume of the crypto market declined by one and a half percent since February 25 and amounted to $127.3 billion on Monday, March 4 at 05:00 (UTC), according to CoinMarketCap.
The crypto market still experiences volatility. Over the past week, the peak value of $132.7 billion was recorded on the digital assets market on February 25, but the total price of all cryptocurrencies dropped sharply by several billion dollars for a short period of time twice — on February 27 and March 4.
These events were associated with bitcoin — the price of the first cryptocurrency was unstable throughout the week and ranged within 3%. Bitcoin overcame the $3900 mark three times in seven days, but then its value fell inevitably and amounted to $3795 on March 4, at 5:15 (UTC).
Ether lost 8% in price over the first week of March. The cost of the third Ripple (XRP) token, by contrast, increased by tenths of a percent, and XRP is inferior to ETH in terms of the capitalization volume by less than a billion dollars.
In the top ten of the ranking, Binance Coin draws attention. It managed to take the ninth position. The overall decline in the value of cryptocurrencies did not affect the token of the Binance crypto exchange — the price of BNB rose by almost 10% during the week. First of all, it speaks of the popularity and trust of users to the trading platform, which announced a competition with a prize fund of 10,000 BNB for its customers last week.
TRON is now tenth in the ranking, having lost more than 10% in price within seven days. The value of EOS and Stellar fell by 8.5% and 3%, respectively. The cost of Litecoin, by contrast, rose by 3.5%. On Monday morning, March 4, all the most liquid cryptocurrencies, except for Stellar, were in the red zone.