Bitcoin market capitalization exceeded 100 billion USD

October 31, 2017 9:27 amComments Off on Bitcoin market capitalization exceeded 100 billion USDViews: 89

Bitcoin market capitalizationBitcoin conquered new records and the most widely used digital currency now costs 6,125 USD, after crossing 5,000 USD and 6,000 USD marks for the first time in its history earlier this month. The Bitcoin market capitalization exceeded 100 billion USD, meaning it represents more than half of the entire crypto-currency market.

The digital currency prices have remained unaffected by the latest regulatory measures around the world and skepticism of Wall Street, including investors such as Warren Buffett and James Dimon. Over 3 billion USD have been invested in Initial Coin Offering (ICO) this year, despite warnings from the US Stock Exchange and Securities Commission, as well as ban from the other financial regulators around the world.

The price of the Ethereum, the second-largest virtual currency, has risen by 8% over the past week, overshadowing the 4.8% growth rate of the Bitcoin for the same period. This happens amid cautious comments by Advanced Micro Devices (AMD), a company that manufactures the hardware for the extraction of Ethereum.

“We expect that there will be some alignment in the search for some crypto-currencies”, said the CEO of AMD, Lisa Su.

Morgan Stanley downgraded the company’s ratings on Monday, citing the likelihood of a significant drop in sales of graphics chips on the crypto-currency mining.

Comments are closed