Nov 20, · According to monitoring resource Asset Dash, as first reported by Decrypt, the market capitalization of Mastercard is of $ billion, while the market capitalization of . Nov 17, · Bitcoin’s market cap today hit a new all-time high. Its sky-high market cap, $ billion, is the result of its booming price, currently about $17, Bitcoin’s market cap is the sum of all of the coins in circulation and the price of a single Bitcoin. Bitcoin’s price hit its all-time high, close to $20,, in . The market capitalization of bitcoin has hit a new all-time high above $ billion as the flagship cryptocurrency’s price closes in on its all-time high near $20,
Bitcoin highest market capitalizationBitcoin Market Cap Hits All-Time High as Price Soars - Decrypt
We love you. On top of this, Tether also saw a dramatic surge in interest following Black Thursday in March , when the vast majority of cryptocurrencies collapsed in value in one of the biggest sell-offs in recent history. As individuals and businesses looked to exit their volatile positions, demand for Tether soared—and has continued to this day, as traders use it to avoid volatility.
Like Tether, there are a handful of other USD-backed stablecoins other there, as well as others that are pegged to the value of the US dollar but are instead backed by other assets.
Though none of these have achieved the same absolute levels of success as Tether, many have surpassed it in other key areas. Tether, on the other hand, is just the third most used stablecoin in DeFi, as measured by the total value locked in DeFi applications.
Still, if Tether is facing challengers, it's validation of the broader concept of stablecoins. Other stablecoins aren't the only competition faced by Tether, though; central bank digital currencies CBDCs are looming large on the horizon.
Governments and regulators are turning their attention to stablecoins, too; in November , the British Chancellor of the Exchequer tweeted that the Treasury would publish a consultation to ensure that "new privately-issued currencies, stablecoins, meet the high standards we expect of other payment methods.
And in the US, a proposed Congressional bill would require stablecoin issuers to have a banking charter and earn regulatory approval from the Federal Reserve, FDIC and other agencies. Read on the Decrypt App for the best experience. For the best experience, top crypto news at your fingertips and exclusive features download now. News Coins. By Daniel Phillips 7 min read. In brief Bitcoin isn't the most widely used cryptocurrency; in terms of trading volume, it's left in the dust by Tether USDT.
Pointing that retail FOMO will likely really kick in once Bitcoin shatters its previous all-time high, which after that, the sky's the limit. Billionaires have also been joining the chat.
Many think that the recent bust on high-leverage platforms such as Bitmex has helped stabilize the market from cascading multi-billion dollar sell-offs. In addition, there has been news of a supply crunch being caused by Chinese miners who are struggling to sell their mined Bitcoin due to recent restrictions and clampdowns on exchanges and OTC desks within the country Coindesk.
Whales and retail investors alike are investing in Bitcoin as the ultimate hedge, and with every dip being bought up, one can only guess how far the Bitcoin blast off will take us! Top Market Movers. Have you read our latest blog post, Inside Crypto: Ocean Protocol, yet? As always, we want you to be a part of the conversation! Investments are subject to market risk.