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Bitcoin Leads the Crypto Market

This is a syndicated repost published with the permission of Statista | Infographics. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

According to website CoinMarketCap, all bitcoins in the world were worth around 202 billion U.S. dollars as of October 9, 2020 – more than five times as much as those of the next biggest crypto currency, Ethereum. But Bitcoin used to be worth even more: At the end of 2017, the crypto currency briefly reached a market capitalization of over 300 billion U.S. dollars. That year, Bitcoin started to appeal to mainstream investors and while the ensuing frenzy for the digital currency catapulted its value to new heights, it also led to an inevitable crash in 2018 and a market value that sunk as low as 56 billion momentarily.

Smaller players in the crypto market are Tether (16 billion U.S. dollars) and XRP (10 billion U.S. dollars). The former currency experienced a significant increase in value of around 13 billion U.S. dollars over the last 12 months, securing third place. XRP, on the other hand, lost around 8.5 billion in market value and slid into fourth place.

This chart shows the biggest crypto currencies with the biggest market caps (as of October 9, 2020).

biggest crypto currency market caps

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