Cryptocurrencies, on an impressive victory march, are now collectively worth more than $100 billion.
Headed by a growth spurt in Bitcoin from $42 billion Monday to $48 billion on Tuesday, the value of blockchain assets combined crossed the 12-figure line this week. The top three assets combined, Bitcoin Ethereum and Ripple, represent over $80 billion of that total.
The top 8 cryptocurrencies are over $1 billion
Long the domain of only Bitcoin and then Ethereum as well, now a half-dozen more digital assets have joined the billion dollar club. Soon after Dash made the mark, Stratis also joined. Litecoin, Ethereum Classic, and NEM all rank between $1.5 and $2 billion, while Ripple and Ethereum are in the double-digits. Bitcoin remains firmly in first place at $46 billion, double the nearest competitor and still accounting for over 45% of digital currencies combined.
Cryptocurrencies have grown steadily over the past year, headed mostly by Bitcoin. This year, however, the field has experienced a growth explosion, rising from $30 billion to $100 billion in just six weeks.
Once a fledgling industry, digital currency ranks with big players
Cryptocurrency has come a long way from its relative obscurity in the cypherpunk days. Recently, Google searches for Bitcoin passed those for pop star Justin Bieber:
— Simon Taylor (@sytaylor) June 3, 2017
That $100 billion number ranks with prominent industries and events globally. Cryptocurrency is close to equaling, or passing, the online learning industry. A more recent and dubious comparison is to the recent US arms deal with Saudi Arabia.