Skip to main content

Bitcoin makes up nearly half of the $100 billion cryptocurrency market cap. What’s the rest?

Cryptocurrencies recently hit a new milestone: $100 billion in combined market capitalization.
The break above the 12-digit threshold was largely attributable to bitcoin, which accounts for nearly half of the entire crypto category.
Bitcoin BTCUSD, -1.17%  has more than tripled in 2017, according to crypto pricing site CoinDesk, and has been blowing through $100 milestones at a blindingly fast pace. Bitcoin’s recent gains have brought its market cap to $44.5 billion. At its current size, bitcoin has surpassed the market capitalization of such major companies as Ford Motor Co. F, +0.72%  , Deere & Co. DE, +1.24%   and Delta Air Lines Inc. DAL, +2.00%  It is larger than more than two-thirds of the components of the S&P 500 SPX, +0.64%
Here’s what that translates into: If an investor were to have put $1,000 into bitcoin in 2010, that stake would be worth tens of millions of dollars today.
But there’s a whole crypto world out there beyond bitcoin: CoinDesk lists more than 800 cryptocurrencies, though most of them are thinly traded and have market capitalizations under $1 million. Only eight cryptocurrencies are currently worth more than $1 billion.
Second to bitcoin, ethereum is the most widely used product, with a market capitalization of nearly $24 billion. Ethereum has been an even bigger gainer than bitcoin in 2017. It started the year at $7.98 per coin, and is currently trading at $261 — a rise of nearly 3,200% year-to-date.
Ethereum took investors on a wild ride on Wednesday, plunging from more than $317 to briefly trade as low as 10 cents in a flash cash on the GDAX exchange before rebounding.
Ripple — the third-most valuable on this metric— recently cracked $10 billion in value.

Comments

Popular posts from this blog

Case-By-Case or Cease-and-Desist? In Search Of a New Approach to ICOs

That rumble you hear is the sound of regulators around the world mobilizing resources to tackle the pressing matter of token sales. Yet, in spite of the spectacular growth of blockchain token-based funding, no one seems to have a clear idea of what type of rules to introduce. The resulting uncertainty (not to mention ridicule) is left hindering progress as money flows to unviable projects and investors are left vulnerable to foul play – exactly what regulation is supposed to prevent. Perhaps a new approach is needed. But to see where this could go, it's worth stepping back and asking what we expect the regulation to do. Safety belt First, why do we need regulation, not just of finance, but of anything at all? To protect us. At its roots, that is the main role of government – to protect its citizens from avoidable harm and extreme loss brought about by others or from our own lack of common sense. When it comes to securities, that usually means stopping us from making poor decisions…

Frequently asked questions about Bitcoin

What is Bitcoin? Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping systemin existence. Who created Bitcoin? Bitcoin is the first implementation of a concept called crypto-currency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers w…

Is Bitcoin Legal?

Bitcoin is of interest to law enforcement agencies, tax authorities, and legal regulators, all of which are trying to understand how the cryptocurrency fits into existing frameworks. The legality of your bitcoin activities will depend on who you are, where you live, and what you are doing with it. Bitcoin has proven to be a contentious issue for regulators and law enforcers, both of which have targeted the digital currency in an attempt to control its use. We are still early on in the game, and many legal authorities are still struggling to understand the cryptocurrency, let alone make laws around it. Amid all this uncertainty, one question stands out: is bitcoin legal? The answer is, yes, depending on what you’re doing with it. Read on for our guide to the complex legal landscape surrounding bitcoin. Most of the discussion concerns the US, where many of the legal dramas are currently playing out. Alternatively, you can access our comprehensive Regulation Report for worldwide expert …