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Bitcoin (XBT/USD) is rising on the first trading day of the week, reaching a high of $70,600 per 1 BTC. Bitcoin dominates the market with a share of around 70%.
The total capitalization of the cryptocurrency market exceeds $3.2 trillion USD.
Ethereum (ETH/USD) is trading at around $2,100 per 1 ETH.
Ripple (XRP/USD) is currently valued at $1.4 per coin.
The top cryptocurrencies by trading volume and market capitalization are:
- Bitcoin,
- Ethereum,
- USDT,
- Solana, BNB Chain, Dogecoin.
It is important to note 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 influencing prices 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.
This overview was provided by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.
