Crypto Ups and Downs on 6 - 12 Mar

In this article we present the overview of the gainers and downers among cryptocurrencies with the highest market capitalization during the week on March 6 - 12, 2018
12 March 2018   1232

From this article you will learn about the most unpredictable ups and downs of cryptocurrencies. We have analyzed the crypto market, and researched the most popular tokens and coins with market capitalization over $1M. In the charts below you can find all relevant information regarding the leaders of growth and fall during past 7 days.

This week was much less successful for the coins and tokens with high market capitalization, than the previous one. Currently SaluS is the leader of our charts as it rose 25.60% within past 7 days, and it is a much less successful result in comparison with the last week gainers charts, when most of the coins grew more than 50%. MinexCoin is also rising, it managed to increase 21.26%, having grown from $26,56 on March 6 to $32,61 on March 12, while its market capitalization grew from $91 million to $112 million.

The Biggest Gainers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
Storj 149 988 933 1,12 9 207 640 + 3.26
MinexCoin 111 737 792 32,27 345 869 + 21.26
XPA 101 399 000 0,101399 79 992 + 4.16
SaluS 85 857 601 84,99 9 218 970 + 25.60
Credits 77 832 224 0,602697 2 859 580 + 7.39

Nevertheless, past week was not so fortunate for some cryptocurrencies. A lot of coins and tokens fell down in price and market capitalization, losing popularity among the users.

The Greatest Downers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
MediShares 59 926 943 0,123941 3 020 720 - 43.30
IoT Chain 51 096 430 1,05  6 620 330 - 43.61
DATA 42 419 099 0,009971 3 552 370 - 44.70
AirSwap 35 255 550 0,235037 1 704 210 - 48.02
Cobinhood 34 769 487 0,097028 301 126 - 43.62

The greatest downer of this week is AirSwap, which fell 48.02%, having its market capitalization decreased from $64 million to $35 million only within 7 days. Moreover, DATA has also had a rather unsuccessful week, as it fell 44.70%, having its price drop from $0,017 to $0,009 from March 6 to 12. The market capitalization of Cobinhood dropped from $58 to $34 million, while the market capitalization of IoT Chain fell down from $87 million to $51 million.

Bitcoin May Pass Gold Market Cap, - Novogratz

Mike Novogratz continues to be Bitcoin and cryptocurrency optimist 
25 March 2019   105

The founder of Galaxy Digital, Mike Novogratz, expressed the opinion that over the next 20 years, Bitcoin’s capitalization would “easily” surpass the gold market, currently estimated at $ 7.5 trillion. It is reported by The Daily HODL.

In a conversation with the founder of Morgan Creek Digital, Anthony Pompiano, Novogratz stressed that the inflow of institutional money to the cryptocurrency market is only a matter of time, and major players like Goldman Sachs and the Intercontinental Exchange (ICE) are already mastering a new industry.

I know Goldman for instance is gearing up around securities tokens. They’re not doing anything yet, but they’re getting really ready and looking at all the questions on – where would you store them? Do you have to build your own custody, or can you use someone else’s custody? How to get them to work.
 

Mike Novogratz

Founder, Galaxy Digital

According to him, the growth potential of Bitcoin is strong and therefore it is advisable for investors to include the first cryptocurrency in their portfolios:

I think the macro case for [Bitcoin] is pretty strong. And so, if you can put a couple percent of your portfolio in, there’s a decent chance it catches wind. Fidelity is just getting set up. Bakkt continues to get delayed a little bit, but it’s not going to be delayed forever. They’re going to be in the game. And there’s lots of other players coming.
 

Mike Novogratz

Founder, Galaxy Digital

According to him, the volume of the gold market is $ 7.5-8 trillion and in order to outperform this market, the first cryptocurrency needs to grow in price at least 100 times.

Gold’s got an $8 trillion market cap, or a $7.5 trillion market cap. And so, we’re 100x off on that. We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily. And that’s giving zero optionality to all the other stuff. And so I think it seems like a pretty smart portfolio bet.
 

Mike Novogratz

Founder, Galaxy Digital

The founder of Galaxy Digital also touched on the topic of bitcoin futures.

The reality is, the CME kicked their butts. And these guys have limited resources on what they’re going to spend their focus, and they decided to spend it elsewhere. Finding leverage in Bitcoin is going to get easier as the architecture in the space gets better. You’re already seeing the lending market around Bitcoin went from 10% to like 3%. So once you can borrow you can short. And so now it’s not so hard to short Bitcoin. It used to be almost impossible to short Bitcoin in 2016… It wasn’t great, but it’s not critical. 
 

Mike Novogratz

Founder, Galaxy Digital

In February Mike expressed the opinion that, thanks to institutional money, Bitcoin will reach $ 8,000.