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$ 200 million: Bitcoin price catapults crypto market capitalization to a new record

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The market capitalization of the cryptocurrency took another historic step Friday, reaching for the first time the $ 200 billion mark. history. Contrary to the record advance of yesterday – which was achieved by itself by soaring bitcoin prices – today's move was the result of a joint rally. of almost every coin of the top 100.

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<p class= Source: CoinMarketCap

The ceiling of the crypto stock market entered the day just below 190 billion dollars. This number ticked until Friday morning, and at 2:00 UTC it began to soar. By five o'clock he had added $ 5 billion more, and he exceeded $ 200 billion less than four hours later, finally reaching a new record of $ 201.9 billion.

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<p class= Source: CoinMarketCap

The Bitcoin Prize Rises to $ 7,450

The price of bitcoin continued to make headlines by leaping to a new historic high. Yesterday, bitcoin had reached $ 7,350 before a flash shock halted its lead. However, traders had no trouble raising this mark on Friday, and the global average bitcoin price hit a new record of $ 7,461. The price of bitcoin has since dropped to $ 7,303, but that still represents a staggering weekly gain of 25%. Bitcoin now has a market capitalization of nearly $ 122 billion.

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<p class= Bitcoin Price Graph | Source: CoinMarketCap

The progression continues to seem related to the revelation earlier this week that CME Group, the largest derivatives exchange in the world, intends to list bitcoin futures. David Johnson, CEO of Lazio, a work platform that pays his users in cryptocurrency, told CCN that he believed the announcement of CME "opens the door to the use of Bitcoin like a real call for tenders ".

Bitcoin futures provide the necessary infrastructure for any business to participate in the Bitcoin phenomenon while mitigating market risk. The ability to hedge market risk is a requirement for any business looking to accept payment in a non-native currency.

"The opening of a one-time futures market is a game changer for the global acceptance of Bitcoin as a real-world currency," Johnson said. "This publication proves that Bitcoin is no longer the ugly grandson of the financial world, but a true financial asset respected by all."

The price of Ethereum goes back to $ 300

Ethereum, like most crypto-currencies, did not perform well during the month of bitcoin. While the flagship crypto-currency has historical records almost every day, Ethereum has struggled to walk on water. Earlier this week, the price of Ethereum began to drop below $ 300, which had been its level of support for most of the past two months. However, the Ethereum joined the upward movement on Friday, allowing its price to float near the $ 300 mark. At present, the price of Ethereum is trading at $ 297, which translates into a market capitalization of $ 28.3 billion.

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<p class= Price Ethereum Chart Source: CoinMarketCap

The Altcoins join the Rally

The Altcoins have been hard hit in recent weeks as traders have consolidated their positions in the booming bitcoin markets. However, crypto markets made a unified advance on Friday, and almost every first 100 cryptocurrency posted a net gain.

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<p class= Source: CoinMarketCap

Bitcoin cash resumed its recent surge, posting a double-digit gain for the second consecutive day to raise its price to $ 648 – its highest level since early September. Bitcoin Cash now has a market capitalization of $ 10.9 billion, giving it an edge of nearly $ 3 billion on the fourth wave.

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<p class= Bitcoin Monetary Consumption Chart | Source: CoinMarketCap

Ripple may be losing ground on bitcoin cash, but his 24-hour performance was the second best among high-level coins. The price of the ripple rose by 7%, bringing its market capitalization to nearly $ 8 billion. Litecoin and bitconnect each rose 4%, while NEO reached a 6% rebound to increase its price to $ 26. Dash, NEM and monero posted less impressive gains, but each managed to make minor advances of about 2%.

Image from Shutterstock.

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