Topic: Monthly Cryptocurrency and ICO Market Analysis [October 2017] (Read 766 times)

In October, total cryptocurrency market capitalization increased by 23.52%, from $147.87 to $182.65 billion, and the Bitcoin, Ethereum and Litecoin exchange rates increased by 48.37%, 1.4% and 1.09%, respectively. The market capitalization of the dominant cryptocurrency, Bitcoin, grew from $72.05 to $107.29 billion in October. Therefore, one can conclude that the overall growth in the cryptocurrency market is due primarily to the growth in the exchange rate of Bitcoin, the capitalization of which surpassed $100 billion for the first time on October 20, 2017.

A significant jump in total cryptocurrency market capitalization was seen in the first five days of November (November 1-5, 2017), from $182.65 to $199.51 billion, i.e. by 9.23% (see Table 1.1). On November 3, 2017, total cryptocurrency market capitalization exceeded $200 billion for the first time. During the period from November 1st to November 5th the Bitcoin exchange rate appreciated by 14.96%, while the Ethereum and Litecoin exchange rates depreciated by 1.87% and 1.27%, respectively. Over the first five days of November, the Bitcoin exchange rate increased from $6,441 to $7,404.52.

The cryptocurrency market dominance indicators changed considerably, mainly due to the growth in Bitcoin’s share from 48.66% (on October 1, 2017) to 58.7% (on November 1, 2017). As of November 5, 2017, cryptocurrency dominance figures already equaled 61.85% (Bitcoin), 14.37% (Ethereum), and 1.48% (Litecoin) of total cryptocurrency market capitalization. Altcoin dominance (%) fell to 38.15%.

https://www.coinspeaker.com/2017/11/07/monthly-cryptocurrency-ico-market-analysis-october-2017/