CMC100-Report (Week 12/2020): Bitcoin SV Sprints Past Litecoin

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In Brief
  • Last week's small relief rally allowed Bitcoin SV (BSV) to overtake Litecoin (LTC).

  • Binance has increased the liquidity of its Binance USD stablecoin for the fourth time.

  • STEEM price remains unstable amid the contentious Hive fork.

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Throughout Thursday and Friday, the crypto markets have recovered a bit after tremendous losses in the previous week. However, only selected cryptocurrencies, especially those in the top-10, have made any significant gains.

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This small relief rally allowed Bitcoin SV (BSV) to overtake Litecoin (LTC). The now sixth-largest cryptocurrency is one of the best-performing digital assets this week and definitely the most noteworthy. The price of BSV has increased by 20.3% to 0.02741 BTC.

Once more, Binance has increased the liquidity of its Binance USD stablecoin for the fourth time in a row. BUSD, therefore, climbed another two places in the ranking.

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STEEM, the main native token of the Steemit social network, has taken a peculiar price trajectory. There was a mediocre pump-and-dump preceding the hard fork of the Hive network, anticipating the airdrop of Hive tokens. Afterward, prices stabilized at a higher level than before. It is questionable whether STEEM can maintain this price level, especially with another competitor on the market.

Swipe, which saw surprising gains throughout January was the worst performing asset in last week’s report. This week, the payment token rebounded and is now back in the CMC top-100 ranking.

In the last week, the total market cap of all listed cryptocurrencies gained +9.4% to $168.1B. The Bitcoin dominance increased by 1.4 percentage points to 65.1%. In the CMC100-ranking, we have recorded the following major changes:

#1: Bitcoin (Previous Week: 1, Cap: +11.8%)

#2: Ethereum (Previous Week: 2, Cap: +0.4%)

#3: XRP (Previous Week: 3, Cap: -0.6%)

#6: Bitcoin SV (Previous Week: 7, Cap: +34.7%)

#7: Litecoin (Previous Week: 6, Cap: +0.3%)

#13: Huobi (Previous Week: 16, Cap: +9.0%)

#18: USD Coin (Previous Week: 19, Cap: +19.0%)

#19: Dash (Previous Week: 21, Cap: +39.3%)

#20: Ethereum Classic (Previous Week: 18, Cap: -5.4%)

#29: OKB (Previous Week: 31, Cap: +9.9%)

#35: Binance USD (Previous Week: 37, Cap: +30.2%)

#41: Hedera Hashgraph (Previous Week: 36, Cap: -15.9%)

#47: KuCoin Shares (Previous Week: 54, Cap: +20.6%)

#52: Multi-Collateral DAI (Previous Week: 47, Cap: -16.7%)

#53: Kyber Network (Previous Week: 49, Cap: -9.8%)

#56: Steem (Previous Week: 64, Cap: +37.0%)

#58: MCO (Previous Week: 72, Cap: +49.8%)

#60: Enjin Coin (Previous Week: 74, Cap: -37.2%)

#67: ABBC Coin (Previous Week: 61, Cap: -6.5%)

#70: Status (Previous Week: 86, Cap: +34.4%)

#77: Komodo (Previous Week: 68, Cap: -9.1%)

#80: Swipe (Previous Week: 131, Cap: +14.6%)

#91: Ren (Previous Week: 82, Cap: -9.7%)

Data as of 03/22/2020, 22:34 UTC. Source: CoinMarketCap

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