Bitcoin capitalization passes a $100 Billion mark

Bitcoin Market capitalization 2017

0
27
Bitcoin Capitalization

The market capitalization of the world’s first cryptocurrency exceeds $100 billion for the first time.

According to the Coin.Dance service, the Bitcoin price has grown by 56% for the last 30 days, and by more than 850% over the last 12 months:

Bitcoin

Taking the above table’s data into account, it is also easy to see that early investors, who paid their attention to this cryptocurrency two or more years ago and followed the Buy & Hold strategy, have received a significant income from investing in Bitcoin.

Currently, the Bitcoin market value (total BTC in circulation * the trade-weighted average price) is $101.22 billion. BTC daily trading volume is $2.6 billion, which makes the “digital gold” the most popular cryptocurrency among traders as well.

The Bitcoin dominance index equals 58.3%, meaning that the aggregate value of Bitcoin exceeds the capitalization of all the other cryptocurrencies currently present on the Coinmarketcap platform (as many as 1,181 now available).

The chart below illustrates the most tradable cryptocurrencies percentage in the total market capitalization:

Thus, while at the end of June, the total market value of Ethereum got tight close to the Bitcoin market capitalization, the situation has drastically changed now. As of today, the ETH share in the cryptocurrency market equals 16.42%.

The following chart illustrates the growth dynamics of the aggregate cryptocurrency market capitalization since the beginning of the current year:

Thus, while on the first day of 2017, the cryptocurrency market capitalization somewhat exceeded $18 billion, this figure equals $173.7 billion at the moment. Consequently, the cryptocurrency market has grown almost 10 times since the beginning of the present year.

Yesterday, on October 20, the Bitcoin price exceeded $6,000 for the first time in history.

To recap, the first-ever cryptocurrency capitalization has recently exceeded the market value of the largest companies and financial holdings like Goldman Sachs, Morgan Stanley, and Netflix.