All Time Highs and Lows in the Fintech World: A blog about all time highs and lows of different companies.
The Cryptocurrency Market Cap is the total USD value of all Cryptocurrencies in circulation. The total cryptocurrency market value is calculated based on the amount of coins in circulation, multiplied by their current price.
Last week, Bitcoin reached a record high of over $1,900. The cryptocurrency was trading at $1,965 on May 12, according to CoinDesk. The price of Bitcoin has been on a rollercoaster lately, but the latest high is impressive: it’s the first time in history that a single unit of the digital currency has surpassed $1,900.
The dramatic rise in value has made Bitcoin worth more than ever before: according to CoinMarketCap and data from CryptoCompare, the cryptocurrency market cap has now exceeded $61 billion. It is also up nearly 70% since the beginning of April—reaching a total value close to that of Goldman Sachs or Morgan Stanley.
Bitcoin reached a previous all-time high in November 2013, when it hit $1,165 before crashing down to below $500 by early 2015. The second major peak came in June 2016, when it rose to over $780 but then dropped down again.
The currency’s price has risen sharply since last year as investors have started taking a greater interest in blockchain technology and cryptocurrencies such as Ethereum and Ripple. This surge may be fueled by people who are looking for alternative ways to invest their money after seeing stock markets fall due to global political instability or other
In the recent weeks and months, the cryptocurrency market has generated much hype and interest. More people are aware of Bitcoin and other cryptocurrencies. Even though Bitcoin is trading below its all-time high, it’s a great time to be in the technology since more companies are exploring blockchain as a solution for their business needs.
Let’s take a look at cryptocurrency market capitalization. The chart below shows Bitcoin’s dominance of the overall cryptocurrency market. As of April 19th, 2016, bitcoin’s dominance is about 96%.
Even though bitcoin’s dominance has been decreasing slightly since 2013, its overall share of the cryptocurrency market remains very high compared to other currencies like Ethereum, Litecoin and Ripple.
In order to better understand changes in the relative market capitalization of different cryptocurrencies over time, we need to take into account that new coins are constantly added to this space (e.g., Ethereum). We can calculate an average daily market capitalization weighted by each coin’s age (in days) in order to get a better idea of how the entire cryptocurrency space has grown over time
The cryptocurrency market cap is at an all time high with a market cap of $200 Billion. From the start of 2017, there was an increase in the market cap by $2,500%. The cryptocurrency market cap has been increasing exponentially and it is expected to continue to do so.
Bitcoin is the number 1 cryptocurrency and has been dominating the market since its launch in 2009. Bitcoin has a market cap of $117 billion.
Ethereum is the second largest cryptocurrency and has a market cap of $32 billion. Ethereum was launched in 2015 and since then it has been competing with Bitcoin for being the top cryptocurrency.
Cryptocurrencies are on the rise and the amount of attention they are receiving is increasing rapidly. With this, we see a huge number of new people enter the crypto space, but it is not all sunshine and rainbows.
If you are a crypto enthusiast, you can probably relate to the following situation: You’re in a social gathering (a dinner, party or maybe even your family dinner) and you tell someone that you own some Bitcoin and now everyone around you suddenly turns their attention to you, asking you all kinds of questions about it.
You probably have been asked questions like:
– What is Bitcoin?
– Is it real money?
– How does it work?
– How did you buy it?
– Is it safe?
Many people have heard about cryptocurrencies and Bitcoin before, but most have only read about them or seen them on TV. This leads to many misconceptions about cryptocurrencies, some more extreme than others. To tackle these misconceptions, I decided to write this article which aims to debunk some of these myths. I will do this by providing information that is accessible to people who are not familiar with cryptocurrencies.
BITCOIN
Bitcoin was the first decentralized cryptocurrency. It was created by an anonymous person or group named Satoshi Nakamoto in 2009 and has a market cap of $236,931,537,063 as of April 2020.
The main difference between Bitcoin and other cryptocurrencies is that no banks are needed to transfer money. You can send or receive money anywhere in the world using only your computer, tablet or smartphone.
Due to its low transaction fees and easy-to-use interface, Bitcoin has been growing tremendously in popularity since it was created.
As of June 2019, daily transactions on the bitcoin network are around 410,000 while the total number of active Bitcoin wallets is estimated to be around 31 million.
To date, more than 18 million Bitcoins have been mined. The maximum supply will be reached around the year 2140 when 21 million coins will be in circulation.