HomeMarkets10 things you didn't know about cryptocurrency markets

10 things you didn’t know about cryptocurrency markets

Cryptocurrency has risen to prominence over the last two years, moving out of the shadow of Bitcoin and into public consciousness with Ethereum, Ripple, and other altcoins. But there are still plenty of things to learn about cryptocurrency markets, especially if you’re new to the space! Here are 10 facts about cryptocurrency markets that even experienced investors might not know or understand.

1) The total market capitalization of all cryptocurrencies is over $200 billion

The total market capitalization of all cryptocurrencies is over $200 billion, and it is getting bigger every day.
There are hundreds of different types of cryptocurrencies available, such as Bitcoin and Ethereum. Each type has its own value, which goes up or down based on the number of people who are trading with that currency and how much they’re willing to pay for it.
Cryptocurrency values are measured in units called bitcoin (BTC), which is the most popular form at the moment.

2) Bitcoin’s market capitalization is over $70 billion

Bitcoin has been the most popular cryptocurrency to date. It’s market capitalization is over $70 billion. In comparison, Ethereum has a market capitalization of $7 billion and Ripple (XRP) has a market cap of only $2.5 billion. Bitcoin’s price in USD peaked at over $20,000 in December 2017 but recently dropped to around $6,700 per coin.

3) Ethereum’s market capitalization is over $20 billion

Ethereum has a market capitalization of over $20 billion and is the second-largest crypto market behind Bitcoin. It was only two years ago that it was worth less than $1 billion. While Ethereum’s price continues to rise, it remains to be seen if the recent boom will last or if this is just another bubble.

4) The top 10 cryptocurrencies by market capitalization are all digital assets

  • There are over 1,500 cryptocurrencies in existence today.
  • Bitcoin is the most popular, with a market cap of $112 billion.
  • Ethereum is next, with a market cap of $37 billion.
  • Ripple (XRP) has a market cap of $14 billion and is the third largest crypto by market capitalization
  • The top five digital assets by market capitalization account for 58% of the total cryptocurrency market cap

5) Bitcoin is the most traded cryptocurrency

Bitcoin is the most traded cryptocurrency, but there are over 800 coins on the market. Bitcoin has maintained its lead in large part because it is able to process transactions more quickly and cheaply than other coins like Ethereum or Litecoin.

6) The total number of bitcoins in circulation is over 16 million

The total number of bitcoins in circulation is over 16 million, but because of the limited supply the price for a bitcoin has reached record highs. In December 2017, the value of a single bitcoin exceeded $19,000. Currently, the price per bitcoin is hovering around $7200.

7) The total number of Ethereum tokens in circulation is over 93 million

There are over 93 million Ethereum tokens in circulation, with around 83 million of those belonging to the Ethereum Foundation. The other 10% is owned by mining pools. It’s worth noting that there’s no single individual or company in control of Ethereum; it’s an open-source project run by volunteers.

8) Cryptocurrencies are often traded on decentralized exchanges

Cryptocurrencies are often traded on decentralized exchanges. Unlike centralized exchanges, decentralized exchanges are not controlled by a single entity and offer more anonymity to traders. The two most popular decentralized exchanges today are: EtherDelta, which is an order book exchange that lets users trade directly with each other; and Waves, which offers a variety of token trading options.

9) Cryptocurrencies are used as a store of value, a unit of account, and a medium of exchange

Cryptocurrencies are digital currencies that are not tied to any country or central bank. Bitcoin, the first and most well-known, was created in 2008. Cryptocurrencies use encryption techniques to regulate the generation of currency units, verify transactions as well as control the creation of new units.

10) Cryptocurrencies are subject to price volatility

Cryptocurrencies are subject to price volatility, meaning they can increase or decrease in value quickly. This is because there is no centralized authority that controls the value of cryptocurrencies. Instead, the currency’s value depends on market demand and supply. As a result, it is common for currencies to fluctuate between $5 and $500 in a single day.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments