Bitcoin Market Cap Hits $100 Billion for the First Time

Must Read

Ethereum Blockchain: Current news and prediction round the future

 Ethereum is more sheltered than you may think, but by means of a decentralized app or exchange that hasn't...

Racing For Heroes selects Gen2 Technologies as a Key Technology Partner

SPARKS, Nev., April 7, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is proud to...

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory....
- Advertisement -
Earn Free Bitcoin

The Bitcoin (BTC) network passed a new milestone this week, as new data revealed the extent of altcoins’ losses. 

According to data aggregator Coinmetrics.io on Aug. 25, so-called realized market cap has become the latest indicator flashing bullish for Bitcoin. 

Realized Bitcoin market cap surpasses $100 billion record

Realized market cap, an alternative calculation of Bitcoin’s market capitalization, is now at record highs. 

Calculated from multiplying the price each bitcoin last traded by the size of each trade, the figure for Bitcoin passed $100 billion on Sunday.

The achievement is just one more in a string of near-constant records for Bitcoin, which recently posted all-time highs in areas such as hash rate and daily trading volumes. 

As cryptography pioneer Nick Szabo added, the realized market cap progress comes in tandem with some of the lowest volatility seen on the Bitcoin network since 2012.

“The long-term chart reflects the superior deep safety, global seamlessness, and monetary soundness of Bitcoin,” he commented on Monday.

Only Binance Coin brings home the bacon for traders

At the same time, however, pressure on altcoins is continuing to mount. As data from Coinmetrics confirmed, most major tokens lost significantly against Bitcoin this year — despite the fact they had previously beaten its performance.

Bitcoin Cash (BCH), Zcash (ZEC), Stellar (XLM) and Ether (ETH) posted the worst declines, while Binance Coin (BNB) was easily the investment of choice. The in-house token of crypto exchange Binance is up 44% against Bitcoin since August 2018.

Altcoins’ decline against Bitcoin has long formed a topic of debate among commentators. Recently, veteran trader Peter Brandt claimed non-Bitcoin tokens were experiencing their version of the dot-com boom and may never recover.

“Following 2001-02 tech collapse, dotcoms with real value exploded. The ‘alt’ .coms went bankrupt,” he wrote in June. 

Figures such as well-known Bitcoin bull Max Keiser subsequently repeated the claims.

- Advertisement -
- Advertisement -

Latest News

Bitpanda raises $170M in funding round

Austria-based cryptocurrency firm Bitpanda has closed a $170 million funding round to further the firm's international growth.
- Advertisement -Earn Free Bitcoin

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory. This recent bull-run has brought...

DigiShares Releases Industry Report on Real Estate Tokenization

DigiShares, a white label security token issuance solutions provider, has released a detailed report outlining the state of the global...

Gen2 Technologies (MNIZ) To Hold Quarterly Update

SPARKS, Nev., March 29, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) wishes to inform its loyal shareholders that it...

Digital Securities & Tokenization Summit Announced for May 2021

Press Release 24 March 2021 DigiShares, the end-to-end white-label platform for...