Cryptocurrency News

Only Nine Crypto Networks Have $1 Billion Market Caps: Report

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As per a recent statistics report, the list of cryptocurrencies whose valuation is more than $1 billion has come down to 10. The performance of Cardano’s ADA is not looking great and hence, facing issues with daily trading.

However, Bitcoin (BTC) is still the leading cryptocurrency in the market with a valuation of $67 billion during press time. But, suppose Bitcoin was a company instead of a cryptocurrency then it would have been a multi-dollar company with hundreds of employees working in it.

Further, Ripple (XRP), which temporarily crossed $100 billion in the previous year, has lost ground and is currently valued at around $14 billion.

The market capitalization of Ethereum (ETH) is valued at $11 billion, but their assets assessments are higher by another $7 billion, provided only those are taken in consideration whose market cap exceeds $1 million. However, the Ether value had lost further 7% in the past 24 hours during the writing of this article.

Meanwhile, if we consider in general, the market capitalization of cryptocurrencies is valued less than 75% when compared to the previous year when the value reached the peak point of $600 billion. Further, Tether (USDT) and Bitfinex played several tricks, and the manipulation games made the public suspicious so much so that it warranted an official investigation.

However, the trend of Bitcoin Cash (BCH) was not so familiar by that time, but if we speak about the current scenario the market capitalization of BCH is valued at $3.2 billion during writing, and it may vary from one period to another.

The market indicators still reflect a downtrend. But, Waltonchain (WTC) is one cryptocurrency whose value exceeded by 200% in the last 24 hours.

Talking about WTC, it is one such autonomous blockchain technology similar to NEO which is working towards and keeping an eye on block-chaining the textile and other large industries via the use of RFID (Radio-Frequency Identification) chips. However, its current per coin price is still around 66% lower than its all-time high price, and its market capitalization is around $1 billion.

Undoubtedly, the crypto landscape doesn’t look promising as of today but compared to its initial days when all blockchains fought to cross the $1 million. It is a significant improvement on the market capitalization value of these currencies. The entire crypto market is currently in a problematic situation as there exists huge uncertainty on the laws framed by governments, the governments implementing many of the crypto-funded operations which initially used the Initial Coin Offering (ICO) model as a way to crowdfund. This turned out as a silver lining for crypto enthusiasts who were looking to get a hold in the crypto market by any means.

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