The Crypto Market Is Exploding With Market Cap Nearing 25 Bn USD

Posted By : Anirudh Bhardwaj | 15-Mar-2017

Cryptocurrency Market

The Cryptocurrency Market seems to be on a perpetual swing with more and more users connecting to the network. Not only the users are multiplying but the number of Altcoins are also increasing. While not all Altcoins are as popular as Bitcoin (the world’s first and foremost cryptocurrency), there are some like Litecoin, Dash, Monero and Ether that are creating quite a stir these days. The existing market capitalization of the Cryptocurrency sphere is close to a whopping sum of $25 billion.


 

Bitcoin Rules!

Apparently, Bitcoin has turned out to be a game changer in this field which alone dominates the entire Cryptocurrency landscape. Being the world’s first and the most beloved Cryptocurrency, Bitcoin is still ruling the world of Cryptocurrencies with more than 95% of the users. As astounding as it sounds, the existing market cap of Bitcoin is more than 20 billion USD while the BTC price is currently on its all time high. The BTC price is staggering around $1250 at the time of writing. Besides that, Bitcoin currently has more than 100 million daily active users which is huge seeing it is yet to attain its full potential. The daily average transactions happening in Bitcoin add up to 200,000 and the number is still showing a potential upsurge.  


 

The Runner Ups

Clearly, Bitcoin isn’t alone in the Cryptocurrency sphere. As a matter of fact, there are hundreds of Cryptocurrencies or Altcoins available in the market that are derived from the original Bitcoin source code. Few examples are Litecoin, Ether, Dogecoin, Monero, Dash and Ripple. Bitcoin is open-source and the source code is freely available to the developers. The same source code can be used to create new Cryptocurrencies that are called Bitcoin clones or Altcoins. That’s the reason why there are so many Cryptocurrencies in the market and new ones keep coming every now and then. Let’s now have a look at some other popular Cryptocurrencies that are standing off the charts.

 

You may also like The Prevailing Block Size Limitations In Bitcoin.
 

Ether

Ether, which unlike the other cryptocurrencies, runs on Ethereum blockchain is currently the second most popular Cryptocurrency with an average price of $29 (at the time of writing) and a market cap that adds up to $2.55 billion. Compared to the other Cryptocurrencies like Litecoin, Ripple and Dash, Ether is quite new to the market. It was launched quite recently in July 2015 but within this short period of time, it has carved its niche in the cryptocurrency sphere.


 

Dash

Dash was launched 3 years ago in January, 2014 and since the time of its launch, it has come a long way ahead. As a matter of fact, Dash is said to be the most anonymous Cryptocurrency of present times. It enables instant transactions over the Blockchain as well as an exclusive payment mode called PrivateSend for carrying out transactions privately. Dash is based on the Darksend protocol and it was formerly known as Darkcoin and Xcoin which flaunted the anonymous nature of the cryptocurrency. The name was later changed to Dash. As of today, Dash is the third most valued Cryptocurrency after Bitcoin and Ether.


 

Monero

Monero, a Cryptocurrency that was launched back in 2014 was having a rough period of time quite recently. But it has shown a remarkable progress in the past few weeks, topping the charts and reaching a reputable spot. The price value of XMR is currently staggering around the $18 making it the fourth most valuable Cryptocurrency. The market cap of Monera has also reached an all time high of $248 million. The trading volume of Monero has also rose above 7 million while there are 14.11 million mined coins so far for Monero.

About Author

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Anirudh Bhardwaj

Anirudh is a Content Strategist and Marketing Specialist who possess strong analytical skills and problem solving capabilities to tackle complex project tasks. Having considerable experience in the technology industry, he produces and proofreads insightful content on next-gen technologies like AI, blockchain, ERP, big data, IoT, and immersive AR/VR technologies. In addition to formulating content strategies for successful project execution, he has got ample experience in handling WordPress/PHP-based projects (delivering from scratch with UI/UX design, content, SEO, and quality assurance). Anirudh is proficient at using popular website tools like GTmetrix, Pagespeed Insights, ahrefs, GA3/GA4, Google Search Console, ChatGPT, Jira, Trello, Postman (API testing), and many more. Talking about the professional experience, he has worked on a range of projects including Wethio Blockchain, BlocEdu, NowCast, IT Savanna, Canine Concepts UK, and more.

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