The first generation and the world’s most prominent cryptocurrency Bitcoin [BTC] picked up a bid and witnessed its price hiking as high as $5,650 in less than 10 minutes on April 23. Reports indicate that it is the highest price ever since Nov 18, 2018. The cryptocurrency whose market capitalization equals to more than half of all the cryptocurrencies in the market combined extended its recent gains today, hiking above $5,500 for the first time in over five months.
At the time of press bitcoin’s price has since decreased slightly, currently trading across exchanges at an average price of $5,564, according to CoinMarketFeed’s price statistics. Analyzing the past 24 hour change the coin witnessed an increase of 4.78 percent.
According to the data from CoinMarketFeed, bitcoin’s individual market capitalization hiked to its highest value since November 18 last year $96.9 billion, approximately up by 1.48 percent on the day by the press time. Report suggests that its percent share of the wider cryptocurrency market, also called as its “dominance rate,” is at 53.2 percent currently.
Analyzing the last 24 hours trading statistics from CoinMarketFeed, data reveals that the cryptocurrency’s exchange trading volume reached 15 billion. But the recent study from the asset management firm Bitwise reveals those figures may be misleading the crypto space. The firm identified 95 percent of the reported trading volume on CoinMarketCap is fake, with only 10 exchanges reporting original true figures.
According to the data from Messario.io, in the past 24 hours, 10 exchanges including major cryptocurrency exchanges like Coinbase, Bitstamp, Kraken and many more, reported $14.95 billion worth of total bitcoin trading volume.
Earlier data reveals that the strong move in bitcoin’s price is usually accompanied by similar movements in the US Dollars value of most other cryptocurrencies.
CoinMarketFeed statistics shows all the major cryptocurrencies under top 10 by market capitalization is flashing green today with gains of minimum two percent. The overall market capitalization of the cryptocurrency market has hiked approximately by 6.3 billion during today’s crypto market rally and currently stands at $184.3 million.