What is the total crypto market cap? We see it in the headline, but that’s all the information we get. You can’t tell much about a market based on one number.”
But if you dig into the story you can find out more. This article is about how well bitcoin has done.
We get a bit of information from the title: total crypto market cap . But what does it mean? How many different currencies and tokens are there? What do you need to be bitcoin?
If we had seen this article in, say, January 2018, we would have assumed it was about bitcoin alone. We would have been surprised when the author explained that there are other currencies and tokens. Bitcoin is only one of them; there are over 2,000 different cryptocurrencies now. We would not have known that this was surprising news or that people were surprised by it at all.
When I first started writing, I thought I should make all my articles as direct as possible: give people exactly what they want when they want it. But if I want people to read my work in a year’s time, I will need to give them something else in addition to what they want: some inkling that there is more to me than meets the eye.”
On May 17, 2017 the total crypto market cap was $133 billion. On Dec. 18, 2017, it was $735 billion. The speed at which the total crypto market cap has increased is truly staggering.
Between the beginning of bitcoin’s existence in 2011 and the end of 2016, the price of bitcoin went from about $0.01 to nearly $1,000. During that time, many other cryptocurrencies came into existence with their own visions for a decentralized future. Each one had its own vision for how to implement blockchain technology to best serve their needs within their industry.
Bitcoin became so successful because it was able to get adoption in all industries that might be interested in using blockchain technology (and those who were not interested were simply left behind).
The total cryptocurrency market cap is an indicator of how well all cryptocurrencies are doing in integrating blockchain technology into their infrastructure. In a few years’ time it will become clear whether or not cryptocurrencies can effectively serve as currencies within a functioning economy.
The total market cap of all cryptocurrencies is not just the sum of their individual market caps. It’s a lot more complicated than that. Cryptocurrencies are very much like stocks: They trade on the stock market, and their value is based on how much people believe they will be worth in the future.
But unlike stocks, each cryptocurrency has an entirely different set of rules for how it trades and how it is valued. For example, Bitcoin’s value depends entirely on whether or not people think it will be worth a million dollars in the future. The total market cap of all cryptocurrencies depends on the total number of Bitcoins that exist as well as the number of people who are willing to pay money to buy those Bitcoins.
The total crypto market cap is therefore not just a sum of individual market cap values. It’s also a sum of people’s beliefs about what those values should be in the future.
Bitcoin’s first mover advantage has been one of the most intriguing aspects of its history. In a digital currency that is supposed to be secure, it seemed almost impossible that it would take so long for an adversary to find a way to roll back its transactions. When that adversary did eventually appear, in the form of Mt Gox, it seemed almost impossible that the world’s largest cryptocurrency exchange would collapse.
But the difficulty of these feats belied a simple truth: Bitcoin is not the only cryptocurrency, and there are far more cryptocurrencies than people realize. It may have started out as the first; but now it is just one of many.
The total crypto market cap is about $316 billion, up from $2 billion in April 2013 according to coinmarketcap.com. This number does not include all currencies and tokens, but rather only those with a market cap greater than $1 billion (which there are roughly 500).
It is a bad sign for the bitcoin economy when fewer people are using it to buy stuff. The future of the bitcoin economy depends on how much they use it to buy stuff.
This year has been an unusual one for bitcoin. Its price has fallen by more than half, from a peak of $1,165 in December to $600 today. That’s a lot for a currency, but for an asset with so many units and so many different functions, it’s not that big a deal. It’s just about what I expected.”
The most widely known and longest-running cryptocurrency in the world, Bitcoin is currently ranked at number 4 on the total related market cap. My favorite part about this currency is that it has a total of 21 million coins that can be mined by using ASIC miners. These cryptocurrency mining machines are essentially computers that mine digital currency like bitcoins by processing data in order to solve computations.
The current price of bitcoin is $6,848.98 USD and a total market value of Bitcoin is $138,200,000 USD. I think this cryptocurrency could possibly be used as an alternative payment method for certain businesses such as Uber. I think Uber will eventually accept Bitcoins as a form of payment because of their low transaction cost and speed.
One of the best ways to get rich is not to compete. In a crowded marketplace, you can’t beat someone else — if you’re the first to try, you might be the only one who tries, and you’ll never make any money.