Global Market Cap Rises Above $800 Billion – Trustnodes

Global Market Cap Rises Above $800 Billion

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The combined market cap of all digital currencies and tokens has risen above $800 billion for the first time ever, nearing that historic one trillion dollars.

While trading volumes have also considerably increased to currently stand at $50 billion, with bitcoin alone handling some $20 billion of it.

Global market cap crosses $800 billion for the first time.

All top 40 digital currencies now have a market cap above one billion dollars, with all top ten standing above ten billion, unimaginable numbers just a few months ago.

Showing just how much this space has grown recently with a number of new entrants gaining huge market caps all the sudden.

The so-called high coin supply cryptos, with Ripple leading, have experienced a bonanza in the past few weeks, with some speculating it might be just because they appear cheap if one ignores their huge supply.

Six out of the top ten coins have a coin supply of around 10 billion or more, with NEM being a good indicative example of a project still probably no one knows much about yet somehow manages to be worth $14 billion.

That, however, at least has a blockchain. Tron is literally just a whitepaper with no product whatever, yet somehow is worth $11 billion.

One way to make sense of it might be to suggest the high coin supply gives rise to temporary high market caps with the assets not quite holding it but only briefly save for exceptions. Whether that is indeed the case, however, time will have to show.

In any event, there have been gains across the board, including doge. That reached penny parity recently and now went up another 50% to gain a market cap of nearly $2 billion.

Those shibes must be happy and might perhaps bring some joy across this space as the bull run continues into this very new year.

 

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