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2 key indicators cast doubt on the strength of the current crypto


Analyzing the aggregate cryptocurrency market performance over the past 7 days could give investors the impression that the total market capitalization grew by a mere 4% to $2.03 trillion, but this data is heavily impacted by the top 5 coins, which happen to include two stablecoins.

Excluding (BTC), Ether (ETH), (BNB) and stablecoins reflects a 9.3% market capitalization increase to $418 billion from $382 billion on Feb 4. This explains why so many of the top-80 altcoins hiked 25% or more while very few presented a negative performance.

Winners and losers among the top-80 coins. Source: Nomics
(USDT) peer-to-peer vs. . Source: OKX
Perpetual futures 8-hour funding rate on Feb. 11. Source: Coinglass