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The euphoria has led to even bigger gains among other top coins, pushing crypto's total market value to $3.7 trillion. ... Market cap: $18.22 billion. 7-day gain: 22.21%.
A bitcoin-based currency featuring instant transactions, decentralized governance and budgeting, and private transactions. 2014 NEO: NEO Da Hongfei & Erik Zhang SHA-256 & RIPEMD160: C# [38] dBFT: China based cryptocurrency, formerly ANT Shares and ANT Coins. The names were changed in 2017 to NEO and GAS. 2014 MazaCoin: MZC BTC Oyate Initiative ...
That caused a significant decline in XRP's market capitalization and created chaos on the markets. [2] [3] According to Bloomberg, in November 2019, Coinmarketcap introduced a Liquidity metric designed to combat fake trading volume. [4] In April 2020, Binance, a cryptocurrency exchange, acquired Coinmarketcap for an undisclosed amount.
The market capitalization of a cryptocurrency is calculated by multiplying the price by the number of coins in circulation. The total cryptocurrency market cap has historically been dominated by bitcoin accounting for at least 50% of the market cap value where altcoins have increased and decreased in market cap value in relation to bitcoin.
The value of a single bitcoin is one of the barometers of optimism in the cryptocurrency industry which is now estimated to be worth $3.3tn, according to analysis firm Coin Market Cap.
While Bitcoin may gain more functionality over time, it should be viewed mainly as a store of value. Gold's current market cap is nearly $18 trillion, while Bitcoin's is still around $2 trillion.
Money serves three purposes: a store of value, a medium of exchange, and a unit of account. [103] According to The Economist in 2014, bitcoin functions best as a medium of exchange. [103] In 2015, The Economist noted that bitcoins had three qualities useful in a currency: they are "hard to earn, limited in supply and easy to verify". [104]
Bitcoin is the largest cryptocurrency by market capitalization, and this new means of playing its price swings offers traders another way to make — and lose — a lot of money quickly.