Crypto Market Capitalisation Passes $800 Billion
On Sunday the combined market capitalization of all cryptocurrencies hit $800 billion, just days after reaching the previous all-time high of $700 billion. Currently, the number is at over $825 billion and continues to grow.
Now, after a two-day period of sharp decline the majority of cryptocurrencies are growing, contributing to the rapid increase in the combined market capitalization.
The latest all-time high comes just under a month after the market has achieved a total capitalization of $500 bln. This immense growth, coupled with the fact that 2017 started at a mere $18 bln combined, seems to indicate that cryptocurrency is well on its way to becoming a trillion-dollar industry.
For example Ethereum has surpassed the $1,000 point for the first time this Friday and keeps raising. Among the reasons of this dynamic rise is the immense level of adoption of the cryptocurrency. And it seems to be higher than the rest assets.
Another major digital currency Ripple also showed a big grow on the market. In December it started raising and has already managed to displace Ethereum as the second-highest cryptocurrency by market capitalization, which made its owner potentially the richest man in the world.