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The cryptocurrency ecosystem has seen substantial growth these past few weeks. With the overall market cap rising to US$87.3bn, things are looking very good. More importantly, there are seven different billion dollar market cap currencies right now. It is possible we will add at least one more before the month of May is over. Things are finally coming together for cryptocurrency as a whole.
The Billion Dollar Market Cap Club
It is good to see so many currencies pass the illuster US$1bn market cap mark. For the longest time, only Bitcoin seemed capable of achieving such a feat. That is only normal, as it remains the world’s leading cryptocurrency. Things have changed quite a bit recently, though, as new players have emerged. More specifically, no one expected Ripple‘s XRP and New Economy Movement to be part of the billion dollar market cap club.
Other currencies in this club include Ethereum and Litecoin, which are no surprises. Dash successfully surpasses the threshold as well. Dash has seen strong momentum for quite some time now. As of right now, one coin is worth US$153.24. Not too long ago, that value was less than one-third of the current price. Perseverance pays off for cryptocurrency enthusiasts. A firm belief in a coin and its future will eventually result in a proper reward.
Interestingly enough, Ethereum Classic snuck into the billion dollar club as well. The ETC market cap has grown quite a bit over the past 48 hours. At this rate, ETC may soon overtake Litecoin. It is a bit strange to see Litecoin in fifth position based on market cap right now, though. For some reason, the recent positive news for Litecoin is not resulting in the spectacular price growth some experts had predicted. Then again, good things may still come for Litecoin in the future.
The bigger question is whether or not we will see a top 10 of billion dollar crypto market caps soon. A few currencies are slowly making their way there, though. Monero is well underway, although its growth is slower and steady. Bytecoin is not too far behind, although it has a much larger coin supply. Steller, Dogecoin, and Zcash can all still make it to the US$1bn mark as well in the coming weeks. These are by far the most exciting times to be involved in cryptocurrency.
great post!