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

How to spend your Bitcoin and Ethereum in South Africa

As Bitcoin and Ethereum gain popularity among investors, an increasing number of users are creating cryptocurrency wallets. The wallets are either hosted through an online provider or stored on the user’s hardware. From these wallets, cryptocurrency owners can make transactions on a blockchain, interact with exchanges and other users, and in the case of the Ethereum blockchain, programme autonomous contracts. Sending cryptocurrency through the blockchain is quick and easy, but using cryptocurrency in lieu of fiat currency is still limited. South African stores and services are slower to adopt cryptocurrencies than more developed countries, but users can still buy products locally with Bitcoin or Ethereum. Stores There is a growing list of stores in South Africa which accept Bitcoin as a payment option – many of which offer the option by allowing users to pay with PayFast. PayFast has partnered with South African Bitcoin exchange Luno to provide users with a way to pay for products or…

Bitcoin in Africa: Insights from the Continent’s Biggest Bitcoin Exchange

Isn’t it absurd that nearly 326 million people representing 80% of the adult population in Africa do not have access to bank accounts? This wretched situation denies countless of people financial freedom in the so-called dark continent. Bureaucratic tenors and economic exclusion inter alia have paved the way for the current phenomenon.

Last year a study of 10 African nations with unusual inflationary ratio had South Sudan registering an unimaginable inflation rate of 295 percent. Egypt had the slightest with 12.30 percent. African governments continue to plunder the riches of the African people through Inflation. This makes it considerably insurmountable for individuals to conserve their resources. Moreover, public sector borrowing has crowded out the efficient private sector that can put credit to good use. The IMF estimates that averagely credit to the private sector is estimated at 30 percent of GDP in Sub-Sahara Africa. CCN spoke to Werner van Rooyen, Head of Business Development …

Duncan Logan just tweeted that he's on board Electroneum

I have been a buyer and holder of bitcoin and Etherreum for a long time but this will be the first ICO I buy into--Duncan Logan.

What is Electroneum?

Electroneum (ETN) is a cryptocurrency that can be mined with a smartphone, requiring almost no technical knowledge or prior experience. This sets it apart from other cryptocurrencies (like Bitcoin) which require expensive hardware and technical know-how to mine.
Electroneum’s unique mobile mining experience allows anyone with a smartphone to earn ETN coins by letting the miner app run in the background.
It was designed specifically with mobile users in mind, thereby appealing to a potential market of 2.2 billion smartphone users around the world. Unlike other cryptocurrencies, Electroneum has a user-friendly, beginner-oriented interface that allows users to seamlessly transfer ETN coins between one another, check their balances, and mine coins.
Being a cryptocurrency, Electroneum is created, held, and spent electronically, and has no phy…