Receive all Cointelegraph news immediately in Telegram.
Bitcoin surges past $730 while Ethereum nears $20, pushing total cryptocurrency market capitalization to $14,3 billion. This is about 90% of the all-time high during late 2013’s Bitcoin bubble.
The total global market capitalization for cryptocurrency has reached 90% of its highest recorded value during late 2013’s Bitcoin price bubble.
Early Thursday June 16th, the total cryptocurrency market cap reached $14.3 billion, nearly 90% of its total in early December of 2013 of $15.9 billion, during Bitcoin’s all-time high price over $1,000. This represents a growth in the cryptocurrency sector of $10 billion over the last year, almost $6 billion of which occurred over the last month
Bitcoin’s price surged to about $730 early Thursday, bringing its total market cap past $11 billion. Meanwhile, Ethereum has also seen a substantial price growth, nearing $20 and reaching a $1.5 billion market cap early Thursday, a growth of nearly $500 million in just five days.
Combined altcoin market capitalization is $2.7 billion, an all-time high, and has grown by more than a billion this year. This new high is greater than the total value of Bitcoin in early 2015, at the depth of its post-bubble slump. Despite its recent price surge, Bitcoin’s total share of the global cryptocurrency market cap has remained at close to 80%.
Surges in cryptocurrency are part of a greater trend in currencies and assets against the dollar. Gold has hit a high of $1,300 per ounce, as US Treasury yield fell the lowest since mid-February. Meanwhile the dollar continues a downward trend against the yuan and yen.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: