This week saw a lot of the correction in the cryptocurrency market that has been due for the last two months. After exploding from $200 billion market cap at the beginning of December 2017, to a high of $850 billion in the second week of January, the market is entering a phase of correction and consolidation. The week started at around $700 billion cap. KryptoMoney bring another weekly list of top ten cryptocurrencies based on market capitalisation.
Anyone who has been in the cryptocurrency market for more than a year has seen correction similar to and even worse than this. Bitcoin (down 16% w-o-w) evangelists from Wall Street have said that Bitcoin could touch $100,000 this year but that is unlikely to be a straight ride up. All major cryptocurrencies have continued to see downtrend of about 10-20% this week, continuing last weeks fall. The most affected cryptocurrencies in the top 10 have been Bitcoin Cash (down 16% w-o-w) and Stellar (down 25% w-o-w). There does not seem to be a clear pattern among the cryptocurrencies which have seen significant downtrend except that market is in a correction phase.
The market could continue to go down further if investors panic sell and lose confidence in the market however that is unlikely. Since the incredible amount of growth that the market has seen in the last two months, there are a lot more people that are interested in entering the crypto market. So if the rumours about South Korea banning cryptocurrencies would die down, the market could quickly start seeing positive growth.
KryptoMoney.com publishes a list of top ten cryptocurrencies on every Sunday. This is our third weekly list for the year 2018 and the previous one was published on 14 January,2017
| S.No | Name | Market Cap | Price | Supply ( in Circulation) |
| 1 | Bitcoin | $192,571,002,180 | $11,450.70 | 16,817,400 BTC |
| 2 | Ethereum | $100,558,716,003 | $1,035.37 | 97,123,459 ETH |
| 3 | Ripple | $52,895,200,377 | $1.37 | 38,739,142,811 XRP |
| 4 | Bitcoin Cash | $29,950,807,645 | $1,769.72 | 16,924,038 BCH |
| 5 | Cardano | $15,672,706,724 | $0.60 | 25,927,070,538 ADA |
| 6 | Litecoin | $10,364,640,281 | $188.94 | 54,858,233 LTC |
| 7 | NEM | $9,458,639,999 | $1.05 | 8,999,999,999 XEM |
| 8 | NEO | $8,433,425,000 | $129.75 | 65,000,000 NEO |
| 9 | Stellar | $8,190,609,657 | $0.46 | 17,892,529,731 XLM |
| 10 | EOS | $7,867,983,902 | $12.71 | 619,180,136 EOS |
Source-coinmarketcap.com
*Market Capitalization is calculated by multiplying the price with the supply of coins in circulation.
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