You have successfully emailed the post. 700 billion to reach largest bitcoin market fresh all-time high on Wednesday.
The record high comes as bitcoin continues to recover from its Christmas plunge. 700 billion on Wednesday to reach a fresh all-time high. 707 billion, as of around 8. Market capitalisation is a basic valuation metric which multiplies the value of an asset — usually a share in a company — by the amount of that asset in circulation.
The total market cap of the crypto market has spiked higher in recent months as many of the more than 1,300 cryptocurrencies in circulation rose. The pre-Christmas sell off seems to be well behind us now. Though Bitcoin is still a bit off her all-time highs some of the alts are generating some serious momentum. 8,000 in a matter of days over Christmas after a manic rally in December. Bitcoin’s gains have continued into Wednesday, with the cryptocurrency up by around 1. 15,000 per coin, as of 9. Screen Shot 2018 01 03 at 09.
While the overall value of cryptocurrencies has increased to a new record, the proportion of that value made up by bitcoin is at an all-time low. There is increasing evidence that crypto investors are shunning bitcoin in favour of the likes of ethereum and Ripple, two currencies that are vying to be the second largest by market capitalisation. Get the latest Bitcoin price here. Follow Fintech Briefing and never miss an update!