Capitalization of the cryptocurrency market has reached an annual minimum

File Cryptocurrency Market

UNITED STATES (VOP TODAY NEWS) – The total value of cryptoactive assets on the market currently stands at $ 203.4 billion , which corresponds to values ​​a year ago.

This observation was shared by The Block analyst Larry Zermak.

On the chart you can see that the dynamics of the trading volumes of the top 50 tokens of the Ethereum-standard ERC-20 closely correlate with the market capitalization indicator. The trade activity of the latter has also reached the marks of a year ago.

It should be noted that currently the price of Bitcoin is rapidly falling.

File – BTC USD, 30-minute chart of the Bitstamp exchange

As it usually happens, the fall of Bitcoin exerts pressure on the entire market:

File CoinMarketCap

Earlier, a supporter of the Elliott wave theory, Evie Gilbart, suggested that the bottom of the BTC price at $ 4,700 would be reached around mid-December of the current year.