Crypto market capitalization approached $ 186 billion
The capitalization of the cryptocurrency segment on Monday reached $ 185.89 billion, which is higher than the values recorded during the market rally last week. Such changes were primarily due to the rise in the last 24 hours of the rates of the largest cryptocurrencies Bitcoin and Ethereum by 2.5% and 8%, respectively..
At the same time, the value of the bitcoin dominance index rose by several tenths of a percent, but it is still near the 50% level, to which it returned after a short jump to 52% last week..
At the same time, XRP, the third largest cryptocurrency, showed near-zero price change. More curious movements are observed outside the top ten largest assets. So, Nano added 14%, and Verge – 16%. Stellar, Tron, and Ethereum Classic also contributed to today’s results, all of which rose over the weekend..
As noted by crypto news source from China on Twitter cnLedger, there is strong investor interest in buying cryptocurrency in local markets. This conclusion allows us to make offers on OTC platforms, which are currently the main instrument of cryptocurrency trading for residents of the country, where 1 USDT is valued at 7 yuan at the official exchange rate of 1 US dollar at 6.7 yuan.
“Why is the overpayment for USDT growing? After the ban on cryptocurrency trading in China, the most convenient way to acquire them was to buy USDT on over-the-counter markets, which can then be exchanged for cryptocurrency using the desired exchange, ”writes cnLedger.
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