Things have come far and are changing slowly. The current century was one that gave rise to wonders in Technologies. And no far that Cryptocurrency is one of the biggest wonders in this Century that will shape the future ages. "If the world does survive then."
Now long ago, when Crypto's will no longer be a taboo as it is in many nations still. We see the possibility where things could be headed. Think about the possibility that 'Blockchain tech to run an entire financial service.' From Banking to Taxation... etc.
We've traveled a long to reach here in the world of Cryptos. From have as low as $100 in daily volume to over $7.3 Billion daily trade volume. Interesting huh? And the total market capitalization of the crypto space is $219 Billion. Half of which Bitcoin Captures.
Lets take a look at some of the data...
- Market capitalization chart:
CoinMarketCap
What's interesting is that, at the start of 2013 there was no volume being traded at all. (Of course this could be wrong because there were no much or handpicked exchanges that tracked volume, or most trade may have happened over through meetups) But towards the end of 2013 the volume spiked up over $54 Million. "Like how on earth did that volume go that high?" Was it the start of the crypto invasion, or was it the right time for people to enter the space?
After all, the volume today is over $7.3 Billion. From Millions-to-Billions. (Have a look at it below)
The chart above shows the overall volume traded soo far today. The numbers may change too...
As we all know, Bitcoin takes the largest space in the crypto's... The volume of BTC is far superior to any other tokens in the market. So... What if we were to remove the Bitcoin volume from the above Graph? "Here's how it'd look".
Interestingly, The volume fall below $4 Billion without Bitcoin Volume being added. So, Bitcoin entirely adds more that $3.6 Billion in the daily volume. But of course here's a irony. If every token in the market wasn't pared with BTC, and was pared with either ETH or LTC, then the value of ETH and LTC would be far more superior than BTC, and the volume of BTC would be lesser compared to ETH and LTC. "Interesting"?
Want to see how much BTC dominates the market?
CoinMarketCap
Above is the All time graph representing the BTC dominance in the market. There was a point where Eth came close to BTC but then btc still is the boss around here. Bitcoin cash made it's mark recently after reaching almost $2k and now is 3rd among the Market dominance...
So here's what we need to understand here... When people keep calling out to BTC reaching over $10k that figure is just a child's play. When people pour in more Fiat, and even if they were to trade in other tokens, the vale of BTC would still go up as they'd have to use BTC to trade... Unless they decide they want ether than we might see ethereum prices rising a bit more higher than what it is at currently. Maybe upto $600 again.
Reason why Ethereum is going up in a bit
You heard that the Parity wallet accidentally locked up over $300 Million worth of ethereum. Close to 100'671.1409395973 Ethereum being locked up when the prices were $298. So there are 100'671.1409395973 less ethereum in the market that is causing a bit of lesser supply in the market that seems to be pushing up the prices. "This interested me" Some people claim that only $150 Million is locked up or $200Million is locked up, not sure eh?
The chain now needs a fork only to remove the ether from Parity. And hopefully the fork is just more than to unlock the wallet.