The Global Market Cap of All Digital Currencies Nears $200 Billion – Trustnodes

The Global Market Cap of All Digital Currencies Nears $200 Billion

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The combined market cap of all digital currencies is now higher than some of the biggest companies on earth, currently standing at $192 billion.

Bitcoin accounts for more than half of it at $119 billion. Ethereum has remained unchanged for now weeks at around $30 billion.

While bitcoin cash has risen recently, taking third position at close to $10 billion, a level bitcoin had just at the beginning of the year.

The rise and rise of cryptocurrencies.

Global trading volumes today stand at an all-time high (ATH) of $8.6 billion, whiskers away from the ATH of around $9 billion reached in June earlier this year.

With all top ten digital currencies standing above $1 billion. Even the alleged literal ponzi scheme currently standing at 7th position.

The current top ten digital currencies.

The combined market cap has risen by around 10x since the beginning of what is dubbed as the miraculous year. With ethereum kicking in a boom this spring the likes of which this space has never seen.

It carried on until early summer in a party atmosphere few will forget. With bitcoin then taking the lead, rising and rising, to a great new height of currently $7,000.

Coinbase, the biggest crypto broker and exchange, added some 1 million new users last month, 100,000 in just one day. Their stats now show another 200,000 have been added in just three days.

Something which indicates this space is on the verge of mainstream adoption, if it’s not there already. With institutional investors coming following the announcement bitcoin futures are to launch within weeks.

The revolution will be monetized. Fittingly for a currency that has its intellectual foundations based on the vocal free market supporter, Hayek.

While its extraordinary rise this year, a decade on since the beginning of the banking collapse, may suggest now the income earning millennials may have begun a movement.

In technology we trust, crypto and code, to take risk away from the boom and bust banks, and decentralize it, placing our faith in the trust machine.

 

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