The total value of the cryptocurrency market is reduced by almost 75% since January
The value of the set of cryptocurrencies marked an annual minimum in August at 186,000 million dollars.
At its current levels, around 215,000 million, the total market capitalization is 75% lower than that registered in January.
The negotiated volume every day shrinks up to 11,000 million dollars, compared to 71,792 million dollars at the beginning of the year.
The lower investor interest raises the bitcoin market share again above 50%.
The cryptocurrency fever languishes. After the decline registered during the summer months, both in market capitalization and in trading volume, the activity in the crypto-market of currencies has not managed to recover forcefully after the usual summer break.
According to data published by Coinmarketcap, the volume traded in the cryptocurrency market fell on August 26 to $ 9.3 billion, its lowest level since November last year, a month before digital currencies became a viral phenomenon.
At that time, such volume of negotiation raised the capitalization of the market to 250,000 million dollars. Now, however, since the aggregate value of cryptocurrencies reached an annual low of $ 186.6 billion in August, cryptocurrencies have encountered many difficulties to resume and now remain slightly above 215,000 million euros, with a volume negotiated around 11,000 million dollars a day.
Since the record highs reached in January at 831,389 million dollars, the combined value of all cryptocurrencies in circulation has plummeted almost 75%.
Also, if we take as reference the historical record of activity in a single day fixed on January 4 with a total of 71,792 million dollars traded, the volume operated in a single day has been reduced by 84.67% percent.
Loss of interest in cryptocurrencies not only affects bitcoin
If we exclude the popular bitcoin from the equation, the drop in interest in the currencies measured through its main market magnitudes is very similar in the rest of the alternative currencies.
Against the 50,404 million dollars managed at the time of maximum turmoil in the market, the 7,711 million moved yesterday suppose a fall of 84,70%, while, in capitalization, the 103,000 million dollars of yesterday are a 81.33% lower than the 551.946 million in the second week of January.
Another sign that points to the lower interest in cryptocurrencies among investors and the general public is the return of market concentration around bitcoin.
The market share of bitcoin again exceeds 50%
At the beginning of December of last year, just before the frenzy of cryptocurrencies woke up, 63% of the market was monopolized by bitcoin. Only a month later, when the crypto fever led to investors looking for the next pitch, the market share of bitcoin was cut in half and stood slightly above 30%.
As the appetite for the chain of blocks of professional and private investors has been decreasing, bitcoin has been monopolizing again more and more market share and is once again over 50%, to which we should add almost 5% of the market enjoyed by bitcoin cash after the bifurcation registered mid-year.