500 billion: a new historical record for the capitalization of all crypto-currencies

in #crypto5 years ago

That night, the cumulative value of all crypto-currencies exceeded the $500 billion threshold for the first time.

504.843 billion: this is the all-time record for the total capitalization of all digital currencies.

Thus, according to data provided by CoinMarketCap, which collects information on the Bitcoins and 1342 "altcoins" currently traded on the markets, the value of all these cryptocurrencies exceeded the $500 billion threshold for the first time tonight.

At the same time, three large-capitalization crypto currencies reached new historical records: $662 for Ether (ETH), $0.478 for Ripple (XRP) and $341 for Litecoin (LTC).

What is astonishing is, above all, the speed with which the capitalisation of digital currencies has progressed:

100 billion on June 6,2017
200 billion on November 4,2017
500 billion on December 12,2017
The chart below shows the exceptional year of crypto-currency currencies, whose total market value has risen from less than $18 billion to over $500 billion:

Transaction volumes exceeded $35 billion in the last 24 hours.

It should be noted that the Bitcoin still leads the boat, with more capitalization of more than 284 billion dollars. Its "dominance" in the market has recently returned to above 50%:

This domination had increased from 85% in March to less than 38% in June, while the capitalisation of Ethereum was close to that of Bitcoin. The BTC had also suffered last month in its struggle with Bitcoin Cash, while the two crypto-currencies were arguing over the miners'"hash rate".

As one twitter user put it, with a capitalization of $291 billion, the Bitcoin alone was close to 0.1% of the total value invested in the main asset classes:

Over the past few days, and while the CBOE has introduced futures contracts on the digital currency, the price of the Bitcoin has stabilized - it is moving between $16,500 and $17,500.

Reference: Coinmarketcap, Bitcoinist

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