Trading Volumes Rise to $9 Billion, Combined Market Cap All-Time Highs at $151 Billion

The combined trading volume for all digital currencies has reached a new high of nearly $9 billion during the past 24 hours trading period.

While the combined market cap has now risen above $150 billion for the first time ever as a bull market of sorts seemingly continues this summer.

The main digital currencies are, however, down. Except for litecoin, which is rising slightly, and NEO, which is seemingly experiencing a bounce after falling in the past few days.

Litecoin is probably rising because the Lightning Network may allow for seamless interchange between ltc and btc through what is called atomic swaps. But that might be many months away and it probably wouldn’t be limited to just these two pairs.

Interestingly, some $2.5 billion of the trading volume comes from a coin no one has heard of called e-dinar (EDR) on an exchange no one has heard of either called localtrade.

It’s not clear whether this is some glitch of sorts because e-dinar’s price has hardly moved at all, seemingly sidewaying in a pretty straight line.

But the EDR/ZAR trading pair is showing huge volumes, with Zar being the fiat currency of South Africa. While e-dinar is seemingly an arabia based proof of stake blockchain that apparently tries to be compatible with muslim religious requirements regarding money.

They are to issue some 999 trillion of them. Making it all very strange, but then this is crypto afterall where strange is to be expected.

It appears to be somewhat quite today price wise. Eth, in particular, has seen its volumes fall considerably to just above half a billion. While Bitcoin hasn’t seen much price action despite the activation of segwit.

It will be interesting to see how they move once they do move. But for now we might perhaps enjoy a bit of quietness. Perhaps.