Digital currencies are seeing significant price reversals just before the month of May approaches. Out of all the 1,590 listed cryptocurrencies on Coinmarketcap, the cumulation of these assets have accumulated a market valuation of $422Bn USD. Bitcoin Core (BTC) markets have gained 14.4 percent over the last seven days but many other cryptocurrencies have seen much larger gains. In the top ten positions, some notable increases include EOS, as its markets spiked 53 percent over the past week, while IOTA jumped 31.9 percent. But Bitcoin (BCH) markets were the clear winner over the past seven days as BCH weekly prices have increased by 88.3 percent today.
Cryptocurrencies, in general, have done well over the last two weeks and the current momentum continues. BTC markets have seen a daily volume increase of $8.8Bn and a $157Bn market capitalization. However many other digital currencies have seen much bigger gains and BTC dominance is down to the 37 percent threshold today. Ethereum (ETH) markets are doing considerably well this week and are up 35 percent over the last seven days. One ETH is averaging around $695 per coin during the April 24 trading sessions. The third largest cryptocurrency valuation held by ripple (XRP) has seen seven-day gains around 37 percent. The market value of XRP today is $0.91 cents and markets command a $1.2Bn 24-hour trade volume. The cryptocurrency EOS has taken over the fifth top market capitalization as its markets have increased significantly this week. One EOS is hovering around $13.42 per token today with a $1.9Bn daily trade volume.
Overall cryptocurrency market participants are extremely pleased with the past week’s runups in value. However, some traders are still skeptical that we are out of the bear market range as there have been a lot of false positive rallies over the last four months. So far the verdict is many traders and digital asset enthusiasts are confident 2018 will be just as spectacular as last year.