COINMARKET CAPITALIZATION BREAKS NEW RECORD; VALUED AT OVER $90 BILLION (UPDATE)
My update on coinmarketcap , today reveals that the market is now valued at over $90 billion ($91,003,999,921) . It is noteworthy that the coin market value increased by more than $20 billion within the last 4 days as shown in my previous article. Bitcoin attained an all time high of $2,400, but its dominance of the market share from 4 days ago have reduced further from 47.1 % to 44.2 %. In the last 24 hours about $4 billion ($4,021,812,860) worth of coins were traded very close to double of what was traded in the last 4 days.
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Ethereum and ripple swapped second and third positions with $20.6 billion and $13.2 billion shares respectively. Ethereum now holds more than 50 % ($20,694,729,049) of bitcoin market share viz-a-viz one third of bitcoins market share that was seen 4 days ago. The current value of ethereum is $224/Eth. It crossed the $200 mark yesterday. Note that ethereal summit 2017 ended a couple of days ago.
New Economic Money (NEM) is still staying strong in 4th place, valued at $0.26 with market cap of over $2 billion ($2,340,711,000). A volume of $21,439,500 was traded on the floor of the coin market in the last 24 hours.
Worthy of note is DASH that has joined the league of coins with billion dollar ($1,135,469,244) market cap, valued at $155.22/DASH. This is happening ahead of DASH evolution.
Stellar lumens, one of the top 10 coins, has a market cap of over half a million dollars ($534,193, 219), with a circulating supply of almost 10 billion (9,625,137,728 XLM), valued at $0.05. There is an upcoming meeting of the stellar team in Abuja, Nigeria on the 3rd of June, 2017.
Ahead of hard fork 19, steem has consolidated with a market cap of over $300 million ($302,976,453), with circulating supply of 233,506,064 STEEM, valued at $1.30/STEEM.
Recall that 30 days (a month) ago. the total coin market was valued at $30 billion. The coin market cap tripled in just 30 days! Read my previous post https://steemit.com/cryptocurrency/@maryfavour/the-cryptocurrency-market-hits-30-billion-usd-and-still-counting .
Could bitcoin lose it's first place soon and ethereum take over? Where do you see ethereum in the next 5 years? Where do you see steem in the next 5 years? Please, share your thoughts in the comments section below.
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Nice analysis. Numbers rule all things. :)
Thank you so much ! I'm so happy that you like and appreciate my post. You are absolutely correct that numbers rule all things. I like to analyze things generally.
Analysing things is good. It was what helps us seek more from ourselves and evolve. :)
That is true. Very true. Through analysis, we are able to clearly define problems which we'll find solution to. This will bring about the evolution you just stated.
This growth in market caps is insane. It is not sustainable.
I think I am as scared as you are, @nenio. For coin market cap to triple in just 30 days is really insane! However, its sustainability is left for you and I, who are the market players, to decide. Personally, more than 50% of my finances are in cryptocurrencies and assets. I appreciate you comment.
i dont think ETH can take over. monero on the other hand looks like a soon contender
I feel ETH has the infrastructure to really drive forward with great tech (not as good as Graphene though) and it is actively seeking mass adoption via marketing and specific alt-coins with niche markets. It will do well. Monero will always be there for privacy however it has a lot of work to do to pick up more market share in the long term. What benefits do you see with Monero that will make it a major player @generalpin ?
Monero, really? Why do you think so? Thanks for sharing your thoughts, @generalpin.