In November 2022, after 2 years, the price of Bitcoin fell below 20 000 USD again.
Which was therefore of great importance, because the last time the price was permanently below the psychological limit of 20 000 USD was in December 2020. The exchange rate was below 20 000 dollars for 10 weeks and sometimes went down to around 15 700 dollars. So, everyone was positively affected when we crossed 20 000 USD again at the beginning of January 2023.
This increase in more than 20% in one week, which many see as the end of the bear market. The price increase was accompanied by a fairly high market capitalization of almost 25%.
But what effect does Bitcoin’s exchange rate have on other cryptocurrencies? To what extent has the market capitalization of cryptocurrencies been rearranged by the rise in the exchange rate? Now let’s take a look how the price and market capitalization of the major minable cryptocurrencies have changed over the past week.
The role and market share of Ethereum Classic has increased greatly since the transition of Ethereum. It is currently the 24th cryptocurrency by Market cap. In the past week, its exchange rate has strengthened, on January 10, the exchange rate hovered around 20 USD (at the end of 2022 the exchange rate was around 15 USD), which after a week keeps the value of 22 USD quite stable, which is a 10% rise. ETC’s market share also seems to be strengthening, only in the last one week a 12% increase was experienced.
Mining devices for mining Ethereum Classic:
Litecoin is the 13th most popular cryptocurrency by market share. Like other coins, the price of Litecoin rose by 7,5% in the last week, parallel to the rise in the price of Bitcoin, i.e., from 80 USD to 86 USD, while its market share increased by 10%.
Miners suitable for mining Litecoin and Scrypt algorithm
Kadena is only the 134th cryptocurrency based on market share, yet due to its stability and mineability, it is one of the most popular POW-based currencies. Over the past week, Kadena has risen from 0,9 USD to 1,09 USD, which is a 20% increase. In terms of market share, achieved a 15% increase, which also strengthens its position.
Mining machines for Kadena mining:
Dogecoin price hovered around 0,075 dollars in early January 2023, which is rising to around 0,085 dollars within a week. This represents an increase of 13%. Based on the market share, it increased by 15% compared to the beginning of the year, which makes it the 9th place among cryptocurrencies.
Mining devices suitable for DogeCoin mining and Scrypt algorithm mining:
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Examined period: 11. 01. 2023. – 18. 01. 2023.
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