There were not many significant movements within the ranking of the top 100 cryptocurrencies this week. There was however a tendency of market caps drawing closer to each other. As such, the biggest gainers showed in the the bottom half of the CMC100. The biggest gainers this week were Energi (NRG), Quant (QNT), and Digitex Futures (DGTX).
There were however outshone by serial mover Swipe (SXP). The crypto-to-fiat payment token was one of the best performing digital assets earlier this year, ranking as high as #45 in late January. Since then, SXP has experienced dramatic volatility, dropping out and back into the CMC100 ranking multiple times.
SXP is listed on CoinMarketCap since August 2019 and it seems like the relatively young token hasn’t found its fair market price yet. Also, low liquidity might be an issue that drives volatility. Since SXP is mainly used for payments, there portion of tokens held on exchanges is rather low. In conjunction with its relatively high trading volume, compared to other cryptocurrencies ranked in a similar range, changes in demand spell a high price volatility.
Among the top 40 cryptocurrencies, there were not many noteworthy movers. The largest gainer here was Huobi Token (HT), which increased its price to 54,246 Satoshis ( 4.1%). Crypto.com Coin was another larger cryptocurrency that outperformed Bitcoin this week. CRO increased its price to 715 Satoshis ( 2.2%).
In the last week, the total market cap of all listed cryptocurrencies gained 12.0% to $190.8B. The Bitcoin dominance gained 0.3 percentage points to 65.2%. In the CMC100 ranking, we have recorded the following major changes:
#1: Bitcoin (Previous Week: 1, Cap: 9.1%)
#2: Ethereum (Previous Week: 2, Cap: 9.8%)
#3: XRP (Previous Week: 3, Cap: 0.6%)
#14: Huobi Token (Previous Week: 17, Cap: 15.1%)
#16: Cardano (Previous Week: 14, Cap: 8.5%)
#17: Chainlink (Previous Week: 16, Cap: 7.5%)
#19 Crypto.com Coin (Previous Week: 20, Cap: 14.3%)
#20: Dash (Previous Week: 19, Cap: 2.8%)
#31: Paxos Standard (Previous Week: 29, Cap: -2.4%)
#38: Decred (Previous Week: 43, Cap: 8,9%)
#39: Hedera Hashgraph (Previous Week: 42, Cap: 8.8%)
#41: ICON (Previous Week: 47, Cap: 22.4%)
#53: MCO (Previous Week: 58, Cap: 11.5%)
#56: Nano (Previous Week: 61, Cap: 26.1%)
#61: DigiByte (Previous Week: 67, Cap: 25.0%)
#62: Nervos Network (Previous Week: 69, Cap: 28.6%)
#66: Energi (Previous Week: 76, Cap: 38.3%)
#68: Quant (Previous Week: 80, Cap: 35.9%)
#75: Swipe (Previous Week: 106, Cap: 123.7%)
#88: Digitex Futures (Previous Week: >100, Cap: 72.1%)
Data as of 04/05/2020, 19:51 UTC. Source: CoinMarketCap
The post CMC100-Report (Week 14/2020): Cryptocurrencies close Ranks appeared first on BeInCrypto.