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Market Update: Cryptocurrency and Gold Markets Fueled by Failing Global Economy

• Bitcoin.com - Jamie Redman

Meanwhile, the precious metals gold and silver have seen incredible gains as well on Monday.

The Crypto Economy Surpasses $300 Billion

While the global economy has been shuddering, precious metals markets and cryptocurrencies have seen significant value flow into these ecosystems. On Monday, July 27 the entire cryptocurrency market capitalization of all 5,700+ coins in existence is around $304 billion.

Market Update: Cryptocurrency and Gold Markets Fueled by Failing Global Economy

Ethereum (ETH) has gained 3.9% during the last 24 hours. Bitcoin (BTC) is up 4.5% on Monday and is currently trading for $10,361 per BTC. Crypto trade volume is up 55% and the entire market capitalization has gained 7.6% during the last 24 hours.

Market Update: Cryptocurrency and Gold Markets Fueled by Failing Global Economy

The top ten digital assets by market valuation on July 27, 2020.

ETH which is swapping for $321 per coin has an overall market valuation of around $35.9 billion in comparison to BTC's $191 billion. Still, BTC's dominance ratio is only 61.6% today while a number of alternative crypto assets have seen much larger gains. XRP is down 0.26% today and trading for $0.21 per coin.


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