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Cryptocurrency Market Cap blasts past USD $300 billion

Cryptocurrency Market Cap blasts past USD $300 billion

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For the first time, the total market capitalization for the cryptocurrency market has surpassed $300 billion.

In brief:

The total market capitalization for the cryptocurrency market has surged above $300 billion for the first time.

For the first time, the total market capitalization for the cryptocurrency market has surpassed $300 billion. The crypto world in less than 10 years has grown tremendously in such a short span of time.

At the time of writing, the market capitalization for all cryptocurrencies stands at roughly $308 billion, according to the data from CoinMarketCap.com. Of that amount, bitcoin's market cap represents the highest share, accounting for about $166 billion.

In 2017 alone, Bitcoin has rocketed from $800 to nearly $10,000, and there is still a month to go. As per CoinDesk Bitcoin Price Index (BPI), the move comes as the price of bitcoin continues to exceed above $9,000, trading at roughly $9,940, and flirting with USD $10,000.

Earlier in June, the total combined market cap had crossed the $100 billion level, while it climbed above $200 billion for the first time on November 3rd. Thus, the present surge above $300 billion depicts the rapid pace at which the market has grown in recent weeks.

The data further shows that other cryptocurrencies market development have contributed to this recent market capitalization milestone. Similarly to the rise of Bitcoin price, Ethereum, the world's second-largest cryptocurrency has also seen an all-time high over the weekend. At the time of writing, Ethereums’s market capitalization stands at $45 billion and is currently trading at about $476. Thus, its price has increased more than 25% in the past week alone.

 

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