- Michaël van de Poppe forecasts a $1.2T total market cap for altcoins.
- The total crypto market cap now stands at $1.02T.
- DOGE and BNB are the top gainers on the top 10 list today.
The crypto analyst, Michaël van de Poppe (@CryptoMichNL), posted on Twitter yesterday evening regarding the total market capitalization of the altcoins. According to the crypto analyst, the market cap of altcoins is “even more optimistic”.
The #altcoin market capitalization is even more optimistic.Never broke beneath the 200-Week MA and now creating an HL for continuation.A break of $700 billion will activate continuation towards $1.2T. pic.twitter.com/PIP0A4HjxG— Michaël van de Poppe (@CryptoMichNL) October 31, 2022
Van de Poppe went on to add that the market capitalization of altcoins “never broke beneath the 200-Week MA and is now creating an HL for continuation”. He forecasts that a “break of $700 billion will activate continuation toward $1.2 trillion.”
The total crypto market cap now stands at approximately $1.02 trillion after a 1.25% rise over the last 24 hours, according to CoinMarketCap. The crypto market leader, Bitcoin (BTC), is contributing around $395.30 billion of the total crypto market cap.
Looking at Ethereum (ETH), which is the second largest crypto and largest altcoin in terms of market cap, its price has risen to $1,587.78, which is a 0.38% increase over the last 24 hours. This has boosted its market cap to around $194,390,991,654.
The rest of the cryptos in CoinMarketCap’s list of the biggest cryptos by market cap all printed gains over the last 24 hours, except for Solana (SOL) at number 10, which saw its price drop 1.03%.
Dogecoin (DOGE) and Binance Coin (BNB) are the biggest gainers in the top 10 list, as DOGE continued its bullish streak with a 24.66% gain and BNB was able to post a daily gain of 5.68%. At press time, DOGE is trading at $0.1452 and BNB is trading at $327.60.
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