On the morning of November 8, the cryptocurrency market began to move. Almost all major cryptocurrencies showed growth, and ETH reached a new all-time high.
At the time of publication, BTC peaked at $ 66,500 and is now trading about $ 66,000. Bitcoin is not enough to reach historic highs at $ 67,000. $ 4,770.Since the end of September, the ETH rate has increased by 75%.
The situation was extremely successful for SOL and BNB. Over the past 7 days, they have grown by 20% and now occupy the 3rd and 4th lines in terms of capitalization in the Coinmarketcap rating, respectively. Stablecoin Tether has been pushed back to 5th position. At the moment, the dominance of Bitcoin is 43.5%, the share of ETH has grown from 18% to 19.5%, but so far it cannot reach 20%. Avalanche (AVAX), which has been rapidly growing recently, reached $ 95.5 and moved out to 12th place in terms of capitalization.
It is worth noting that against the backdrop of the growth in the rate of most cryptocurrencies, the total market capitalization has exceeded $ 3 trillion, according to Coingecko, and now stands at $ 3.015 trillion. But on Coinmarketcap, which adheres to a more conservative policy, capitalization at its peak only rose to $ 2.867 trillion. This is due to the large number of junk cryptocurrencies and tokens registered on Coingecko that have not passed the stricter Coinmarketcap verification.
Earlier, analysts at investment bank JPMorgan said that the growth of the cryptocurrency market was driven by fear of inflation. According to Bernhard Rzymelka, Managing Director of Goldman Sachs Global Markets, ether may almost double by the end of the year and reach $ 8,000.
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