- BTC and Ethereum are leading the 7-day increase indicator.
- BTC and ETH contributed to the general market capitalization increase.
In the past 7 days, both Bitcoins [BTC] and Ethereum [ETH] There has been an increase in prices, which in turn has affected their respective market capitalizations. Moreover, the growth observed in these two assets is also contributing favorably to the overall market capitalization.
Bitcoin and Ethereum drive market expansion
According to data from CoinMarketCap, Bitcoin and Ethereum have shown the largest increases in value among the top assets over the past seven days. As of this writing, BTC is up about 7% and ETH is up over 6%.
A more detailed analysis shows that over the last week, BTC’s market capitalization has increased by more than $60 billion. Market capitalization rose from about $845 billion on February 3 to about $908 billion on February 9.
Similarly, if we look at the ETH market capitalization, we have seen a notable upward trend over the past seven days. From February 3 to February 9, market capitalization increased from approximately $276 billion to approximately $295 billion, reflecting an increase of approximately $19 billion.
Bitcoin and Ethereum market caps push up overall market cap
At the time of writing, Bitcoin and Ethereum had approximately 52% and 17% market power, respectively. This means that changes in market capitalization have a large impact on the overall market.
According to CoinMarketCap market cap analysis, BTC and ETH have seen an increase of approximately $79 billion in the past seven days. This shows that the combined contribution of BTC and ETH added $79 billion to the overall market cap.
As of this writing, the general market capitalization is up about 1.7% to about $1.7 trillion.
BTC and ETH trends
At the time of writing, Bitcoin was trading at around $46,200 on the daily chart. When I checked the chart, it showed an increase of more than 2%, marking the 5th consecutive day of increases.
Furthermore, the Relative Strength Index (RSI) suggests that it is approaching the overbought zone as of this writing.
What is 1,10,100 ETH worth today
Furthermore, when we looked at Ethereum on a daily basis, we found that it was trading upward. It is trading at around $2,454 at the time of this writing, representing an increase of around 1.45%.
It is worth noting that although ETH has not shown as seamless an increase as BTC, it is still witnessing an increase.