ANALYSIS | Crypto by MARKET CAP
2024-10-28

As of time of posting, according to a reliable website the  top 10 cryptocurrencies by market cap  are as follow:

1)  Bitcoin  /  BYBIT:BTCUSDT  
2)  Ethereum  /  BINANCE:ETHUSDT  
 3) Tether /  COINBASE:USDTUSD   
4)  Binance Coin  /  BINANCE:BNBUSDT  
5)  Solana  /  BINANCE:SOLUSDT  
 6) US Dollar Coin /  KRAKEN:USDCUSD   
7)  XRP  /  BINANCE:XRPUSDT  
8) Dogecoin /  BINANCE:DOGEUSDT  
9)  Tron  /  BINANCE:TRXUSDT  
10)  Toncoin  /  OKX:TONUSDT  
11)  Cardano  /  BINANCE:ADAUSDT  
12)  Avalanche  /  BINANCE:AVAXUSDT  

You can find and track this easily by searching "Cryptocurrencies by market cap" or something in that line.

On the charts you will see the king - Bitcoin, as well as TOTAL (total cryptocurrency market cap) which is currently at 2.28T, and at the bottom right TOTAL3 (total cryptocurrency market cap without BTC and ETH), currently at 6.19B.

It's important to note that BTC determines the general direction of the altcoin market, but Cryptocurrencies do not necessarily move together with traditional assets such as stocks. That's why it's important to determine the macro trend before trying to analyze any individual coin. This is especially true for crypto's with a higher market cap. As you begin to look at altcoins that have smaller or micro market caps, they tend to dump/pump unexpectedly without moving together with BTC.

You'll often notice that the top 5-8 alts have similar chart patterns to BTC. Although they do still move within their unique support/resistance zones, it's safe to say that when you see a H&S on Bitcoin, you'll probably see it on the large-cap coins as well. I will say this - it's not the case for XRP and ADA. (I'm surprised to see they still hold such high positions in the ranks and I have a hard time identifying the potential reason for this other than old bag-holders/cult following). 

With this info, you can conclude to a range of different outcomes, including but not limited to:
 🥠 Using crypto as a hedge against traditional assets
🥠Using microcaps as a hedge against BTC
🥠 Microcaps carry more risk 

That all being said - trading is risky, and crypto particularly more so. Even hedging doesn't guarantee safety when it comes to crypto. 
____________________________