Cryptocurrency Market Retreats $300 Billion as Bitcoin and Ethereum Decline. Over the past week, the cryptocurrency has consistently been volatile in the $300 billion region, moving up and down within the range of $280 billion and $350 billion. The market has operated within this boundary throughout March.
this is why you should never use market cap to talk about cryptocurrencies! it is utterly useless.
releasing a new shitcoin with 1 billion supply and $1 value can increase the total market cap $1 billion. also pumping a shitcoin with 100 billion supply increases the supply easily, now imagine how going from $1 to $2 in one shitcoin with that much supply can do to the total market cap!
this is how ETH is staying on number 2 also. it has 72 million premine and nearly 100 million total supply which is making a fake market cap for it.