The cryptocurrency market digest (BTC). Overview for 17.07.2023

The BTC quotes on Monday are hovering near 30,313 USD.

The market failed to continue skyrocketing though it still had all reasons to do so. Last week, the resounding victory of Ripple over the SEC in court provided the cryptocurrency sector with a mighty momentum. More than that, the crash of the USD also facilitated the flow of money to digital assets.

The technical boundary at 31,150 USD was tested but the next one at 31,500 USD remained intact, pushing BTC back.

The daily price chart is giving signals for a decline. It is high time to turn to the support level near 29,800 USD. For the flagship cryptocurrency to start growing again, it needs to secure above 31,000 USD.

The cryptocurrency market capitalisation amounts to 1.220 trillion USD. The BTC share remains at 48.5%, while the ETH share has dropped to 19.1%.

Coinbase capitalisation rose noticeably

The capitalisation of the Coinbase cryptocurrency exchange has increased to 25 billion USD from under 7 billion USD at the beginning of the year. Just last Thursday, the capitalisation of the exchange platform surged 20%.

The total cost of Cardano TVL reached its annual high

The total cost of assets blocked in smart contracts (TVL) of the Cardano network increased to 209 million USD. This is the annual high. In January this year, the digit was assessed at no more than 50 million USD.