Stellas
Total crypto market cap risks a dip below $1 trillion if these 3 metrics don’t improve
The total crypto market capitalization has ranged from $1.19 trillion to $1.36 trillion for the past 23 days, which is a relatively tight 13% range. During the same time, Bitcoin’s (BTC) 3.5% and Ether’s (ETH) 1.6% gains for the week are far from encouraging. To date, the total crypto market is down 43% in just two months, so investors are unlikely to celebrate even if the descending triangle formation breaks to the upside. Total crypto market cap, USD billion. Source: TradingView Regulation worries continue to weigh investor sentiment, a prime example being Japan’s swift decision to enforce new laws after the Terra USD (UST) — now known as TerraUSD Classic (USTC) — collapse. On June 3, Japan’s parliament passed a bill to limit stablecoin issuing to licensed banks, registered money t...
