By Emily Merrell | USA
This past weekend all crypto-currency combined has surpassed $600 billion dollars. Making them worth more than Amazon.
Since this last Monday, December 11th, the cryptocurrency market has increased $160 billion/36 percent to reach a high of over $600 billion. After the arrival of regulated futures by CME and CBOE, they have made the crypto market soar to its all-time high. After the launch of CBOE, the market valuations increased by $160 Billion causing the crypto market to be at an all-time high of $600 billion.
Despite Bitcoin holding the rally the majority of the week, it was altcoins that carried the cap over the threshold. Monday, there were 29 cryptocurrencies with market caps over $1 billion, last year there was only one.
The cryptocurrency market is now worth more than Amazon. Although, Amazon is only one company and the crypto market is many, but let’s remember that this was nowhere near happening this past year.
Cryptocurrency only takes up a small portion of the world’s money supply, its economic status is soaring very rapidly. Cryptocurrency is causing a revolution in the global economy and it wouldn’t be surprising if the crypto market surpassed $1 Trillion before major tech companies like Apple. Overall, in this entire past year, the crypto market increased 3400%. And this is just after Bitcoin has made it into the mainstream. Even some analysts have predicted that Bitcoin may be a global replacement for the US dollar. This revolutionary market is just now entering the mainstream, and may soon run our world.