Digital currency markets have seen decent gains this weekend as bitcoin touched another all-time high (ATH) on Saturday afternoon. Meanwhile, a number of other crypto assets have seen significant price rises as well, as the entire market capitalization of all 7,500+ digital currencies in existence is hovering above the $800 billion mark.
The $800 Billion Crypto Economy
This weekend, bitcoin (BTC) spiked to a new all-time high at $33,333 per unit and since then the price has dropped some after the ATH. At the time of publication, BTC is hovering above the $32k handle as the crypto asset has climbed 19.9% during the last week. The cryptocurrency bitcoin has an overall market valuation of around $602 billion, which brings the bitcoin dominance index to just over 71%.
Meanwhile, the second-largest market capitalization held by ethereum (ETH) is hovering around $88.6 billion. ETH has jumped over 21% this week, 25.4% during the last month, 119% over the 90-day span, and 12-months stats show ETH is up 474%. Currently, ethereum is swapping for $777 per unit and has around $4.8 billion in global trade volume. Further, ever since the recent SEC charges against XRP, the digital currency cap has dropped well below tether’s (USDT) market valuation.
The digital currency XRP is trading for $0.219 per token. XRP is down -24% during the last seven days, -64% for the month, -10% over the three-month span, but 12 months stats against the USD show XRP is up 14.6%. The fifth-largest position is held by litecoin (LTC) which is trading for $137 per coin. LTC jumped 5.2% this week, and 52% during the last 30 days. 90-day stats show LTC has gained 191% and around 222% for the whole year.
Polkadot (DOT) is the sixth-largest market today as the token trades for $9.08 per unit. DOT is up a whopping 77% this week and 69% during the last 30 days. Bitcoin cash (BCH) currently holds the seventh-largest market position on Saturday as each coin is swapping for $362 per BCH. Bitcoin cash is up over 9% this week, 20% this month, and 59% during the last three months. BCH has a market valuation of around $6.7 billion and $984 million in global trade volume.
During the course of the day, as bitcoin crossed a new price range into the $30k zone a great number of bitcoin supporters celebrated. The digital asset strategist and director at Vaneck, Gabor Gurbacs, tweeted about bitcoin’s valuation exceeding any of the top ten global banks by market capitalization.
Moreover, The Block CEO Mike Dudas tweeted about selling a small percentage of holdings. “I sold 10% of my bitcoin today as part of a plan I put in place years ago,” Dudas said. “I plan to hold much of my BTC forever, but I also want to…