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The market capitalization of cryptocurrencies exceeds $3.2 trillion.
On Wednesday, the exchange rate of Bitcoin (XBT/USD) is trading at $90,400 per 1 BTC. Bitcoin accounts for the majority of the market share - around 60-70%.
The price of Ethereum (ETH/USD) has dropped to $3,100 on Wednesday.
Ripple (XRP/USD) has adjusted to $2.1.
Leaders in terms of turnover and market capitalization are:
- Bitcoin,
- Ethereum,
- USDT,
- Solana, BNB Chain, Dogecoin.
It is worth noting that the pricing mechanism in the cryptocurrency market is based on the interaction of supply and demand on exchanges, where prices are formed through buy and sell orders; key factors include limited supply, liquidity, technological updates, news, regulation (laws/bans), mining costs, market sentiment, and speculation, leading to high volatility due to decentralization and the absence of a single regulator.
The daily trading volume of the cryptocurrency market fluctuates around $300 billion.
This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty "Higher School of Management" at the Financial University under the Government of the Russian Federation.
