According to website CoinMarketCap, the market cap of cryptocurrencies exceeded 2 trillion U.S. dollars as of April 15, 2021. Bitcoin – by far the biggest cryptocurrency – makes up around half of that, while the next biggest coin, Ethereum, accounts for around 13 percent.
Smaller players in the crypto market are Binance Coin (85 billion U.S. dollars) and XRP (78 billion U.S. dollars).
All these currencies experienced a significant increase in value of over the last 6 months and are now worth six to seven times their October value.
Trendy cryptocurrency Dodgecoin was the 11th most valuable coin with a market cap of around $17 billion. The former joke currency surged majorly, doubling its value in just seven days. Dodgecoin thereby caught the biggest wind among major cryptocurrencies in the frenzy around the IPO of cryptocurrency marketplace Coinbase despite not even being traded on the platform. XRP was another one of the major benefactors of the week’s interest in crypto and increase its market cap by more than 80 percent in seven days.
This chart shows market caps of cryptocurrencies (as of April 15, 2021).
Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.