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Cryptocurrencies’ Combined Market Cap Reaches $100 Billion! Bitcoin Reaches New Price Highs

Bitcoin Leading the Pack for Now!

The market capital of every cryptocurrency combined has breached the $100 billion threshold, highlighting the incredible amount of growth in the industry. Bitcoin, the current number one cryptocurrency by price and market capital, leads the bullish industry with approximately 46% of the market share, reaching towards more ATHs, despite the sudden correction in the previous week.

Crypto Currencies Combined Market Cap Reaches $100 Billion! – Bitcoin Reaches New Price Highs

The Industry Has Exploded in the Last Twelve Months!

This time last year, Bitcoin traded close to $600 (a price many would look at as a bargain today), and the total market capital of every coin combined reached $11 billion. The industry’s growth is an obvious testament to the growing popularity of cryptocurrencies and the lack of faith in the fiat, debt, and inflation-based monetary system.

Cryptocurrencies’ Combined Market Cap Reaches $100 Billion! Bitcoin Reaches New Price Highs

 

With more private capital flowing into the industry by users seeking greater returns on investments and corporate capital flowing into projects like Ethereum, Ripple, and other popular blockchain projects, the growth of the industry will likely continue on an overall upward momentum despite any corrections still yet to come.

Are We in Bubble Territory?

Many will say this is a bubble. With corrections and high volatility being somewhat of a regular occurrence in the crypto ecosystem, the risk is still extremely high for investors. The industry is still small compared to other global markets, and it is in its early stages of development.

The overall awareness is still extremely low, as most people still have no idea this industry exists, nor about blockchain technology.

 

The lack of exposure gives positive insight. Any industry reaching $100 billion in capital while being relatively unknown surely has the ability to increase tenfold when eventually going mainstream. The duration of 2017 has seen an increase that has taken the industry by surprise, with exchanges crashing from high volume, Bitcoin ATMs appearing in more major cities globally, and more financial and tech-based companies researching and investing in blockchain projects, such as the Enterprise Ethereum Alliance (EEA).

Bitcoin Losing Market Dominance Means Nothing!

Again, this time last year, Bitcoin’s share of the overall market capital was a strong 80%. That has halved since then, yet the price and market capital of Bitcoin itself has grown, along with other rival blockchains. This highlights the fact that capital is not leaving Bitcoin, but rather outside investment is going into new blockchain projects, as well as going into Bitcoin’s growing ecosystem.

Bitcoin is still used as a stepping stone into the various cryptocurrencies available, which could also be one of the many reasons Bitcoin has grown along with its fellow digital counterparts.

Cryptocurrencies such as Ethereum, Ripple, NEM, Litecoin, and many others have grown in market capital and continue to take larger shares in the combined market cap. We could see a more widespread distribution of market capital dominance as the years go by, providing there is no market crash similar to the Dotcom bubble over ten years ago.

Nothing is ever guaranteed and should always be thoroughly researched, but with cryptocurrency still largely unheard of, we could see the market capital easily surge as new capital comes into the industry from innovative start-ups and investors seeking to grow their wealth.

 

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