In its upward trajectory, not only the price of bitcoin holds headlines, but also the total market capitalization value of bitcoin and the rest of the cryptocurrencies break records, as well as the daily volume of transactions.
This Wednesday, while the total value of market capitalization of the cryptocurrencies exceeded 610 billions of dollars, while the volume of daily transactions exceeded $ 50 billion a few hours ago according to Coinmarketcap. Although later this indicator fell 5%.
The Business Insider publication notes that in addition to surpassing this milestone, the total of daily cryptoactive transactions registered by Coinmarketcap, was above the daily volumes of the New York Stock Exchange (New York Stock Exhange, NYSE). In London, the daily volumes of the stock exchange (LSE) range between £ 5 billion and £ 7 billion, that is, below $ 10 billion.
As a sign of the current dynamism of cryptocurrencies, it is enough to see in CoinMarketCap the volumes of this Thursday, 1:00 pm UTC:
Although the comparison is inaccurate, since when considering the daily transactions of foreign currency (foreing exchange or Forex) volumes of over $ 50 billion are reached, it is a sign of the prominence reached by the cryptocurrency market.
In the latter, in contrast to Forex, most transactions are made by small investors.
The attractiveness of bitcoin, which has grown by more than 1,500% in 2017 and is trading at an average of $ 17,000, has not only pushed the entire cryptoactive market upwards, it has also boosted other cryptocurrencies such as ether, which is found above the $ 860 or Ripple that today obtained an appreciation in the market superior to $ 1 per unit, breaking its historical mark. According to Coinmarketcap, there are more than 1,300 cryptocurrencies.
A sample of the market dynamics of altcoins is represented by the distribution of the dominance of bitcoin, which today is estimated at 46%, less than half of the total, but just two years ago it was close to 80%.
However, opinions against the crypto market are not lacking, especially since it is beyond the reach of financial regulators. The director of the UK's main regulator recently stated that those who invest in cryptocurrencies must prepare to lose their money. And JPMorgan CEO Jamie Dimon insists on labeling cryptocurrencies as "a scam."