- BTC and Ethereum lead the 7-day rising metric.
- BTC and ETH have contributed to the increase in overall market capitalization.
In the last seven days, both have Bitcoin [BTC] and Ethereum [ETH] recorded price increases, which impacted their respective market capitalizations. Furthermore, the growth observed in these two assets has also contributed positively to the overall market capitalization.
Bitcoin and Ethereum are leading the market rise
According to data from CoinMarketCap, Bitcoin and Ethereum have seen significant increases in value among the top assets over the past seven days. At the time of writing, BTC is up around 7% while ETH is up over 6%.
A more detailed analysis revealed that BTC’s market capitalization increased by over $60 billion in the last week. The market capitalization increased from around $845 billion on February 3rd to around $908 billion on February 9th.
Likewise, examining the ETH market capitalization showed a notable upward trend over the last seven days. Between February 3 and February 9, the market capitalization increased from around $276 billion to around $295 billion, an increase of around $19 billion.
The market cap of Bitcoin and Ethereum increases the overall market cap
At the time of writing, Bitcoin and Ethereum had market dominance of around 52% and 17%, respectively. This implied that any fluctuations in their market capitalization would have a significant impact on the overall market.
Based on analysis of market capitalizations on CoinMarketCap, BTC and ETH recorded an increase of around $79 billion in the last seven days. This showed that the combined contributions of BTC and ETH accounted for a $79 billion increase in the total market capitalization.
At the time of writing, the overall market cap has increased by around 1.7%, reaching around $1.7 trillion.
How BTC and ETH have developed
At the time of writing, Bitcoin was trading at around $46,200 on the daily timeframe chart. A chart review showed it posted growth of over 2%, marking its fifth consecutive day of growth.
Additionally, the Relative Strength Index (RSI) suggests that it is approaching the overbought zone at the time of writing.
Source: Trading View
How much is 1,10,100 ETH worth today?
Additionally, an examination of Ethereum on the daily time frame showed that trading was witnessing an increase. At the time of writing, it was trading at around $2,454, up about 1.45%.
It is noteworthy that ETH did not see the same seamless rise as BTC, but still saw an increase.
Source: Trading View
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