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http://www.brotherjohnf.com/higher-prices-make-crypto-assets-crypto-currencies/ – Do Higher Prices Make Crypto-Assets Crypto-Currencies?. —
marctomarket.com / by Marc Chandler / May 23, 2017
There has been a surge of interest and activity in the what have been dubbed crypto-currencies. According to the Economist, the market cap for this space is around $60 bln, and a founder of the one of the crypto-to-crypto exchange estimates daily turnover is as much as $2 bln.
Some of the price action is breath-taking. The most well-known are the Bitcoin. The price surged 140% last year and is up nearly as much already this year. The Bitcoin accounts for around half of the market cap for crypto-currencies and acts as the numeraire for others that are linked to it.
The Bitcoin’s appreciation has percolated into the mainstream media, but it is not the only one that appreciated dramatically. Ripple, for example, began the month with a market cap of around $2 bln. It was recently at $13 bln. Ethereum was worth about $700 mln in January and recently was valued at more than $8.5 bln.
The post Do Higher Prices Make Crypto-Assets Crypto-Currencies? appeared first on Silver For The People.
–(Published @ May 23, 2017 at 12:20PM by www.bitcoins.am™ Instant Real-time Bitcoin News Aggregation Source- From: ) #bitcoinnews
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