Cryptocurrencies are Becoming more Valuable than Facebook

Nishanth Shetty

Nishanth Shetty

December 16, 2017 12:55 pm

Cryptocurrencies are Becoming more Valuable than Facebook | Coindelite News
3352 Total Views

Cryptocurrency News

The bitcoin price has crossed $18,000 on Friday since the traders rolled their altcoins profits back into the flagship cryptocurrency. Few other top-Cryptocurrencies such as Ethereum saw the price declines, making them lose the market cap that they had fought for recouping during the bitcoin’s mid-week drop.

 

 

Though not a milestone in and of itself, achieving the $530 billion market capitalization, which was for another reason. Wall Street Strategist Tom Lee attributes assign this year’s massive bitcoin price increase to the “network effect”, so it is fitting that the combined value of the other cryptocurrencies has now crossed the market cap of the most popular social network which is called “Facebook”.

Bitcoin Price Rallies Past $18,000

Though the majority of cryptocurrencies posted single-day declines on Friday, the bitcoin price rallied more than eight percent, enabling the dominant cryptocurrency to crack the $18,000 mark and inch closer to its all-time high. At present, the bitcoin price is trading at a global average of $18,134, which translates into a $303.6 billion market cap.

Bitcoin Price crossed $18,000

 

By the majority of cryptocurrencies posted single-day declines on Friday, the bitcoin price rallied more than eight percent, enabling the dominant cryptocurrency to crack the $18,000 mark and closer to its all-time high. As of now, the bitcoin price is trading at a global average of $18,134 which translates into a $303.6 billion market cap.

Ethereum has also grown:

The Ethereum price had grown into an all-time high of $752, and many of the investors started believing that $1,000 was on the horizon. Anyhow, the Ethereum price experienced a 10 percent correction on Friday, through reducing the second largest cryptocurrency to a present value of $653. This translates into a 63 billion market capitalization.

Altcoins are also rocking:

 

The altcoin market cap dropped to $227 billion – a single day decrease of $6 billion.

Ripple left the Bitcoin Cash one step below

The Ripple’s price reached a new all-time high of $0.892, although it has settled down to $0.758. This anyhow represents a single-day rally of 33%, and ripple became the third largest cryptocurrency in the market.

No Comments
Reason for Hike in XRP Value Explained!!!

XRP prices seem to have Spiked Lately Ripple is generating notable gains as the huge cryptocurrency market pushed higher. According to Coindelite, the XRP token attained a value of $0.8768. Coindelite figures show that Ripple rose by 20% over the last 24 hours and has climbed to its highest since …

Amazon Web Series is Making the use of Hyperledger and Ethereum easy

Amazon Web Series to Start a New service for Hyperledger and Ethereum easy Amazon Web Services has recently announced the service it is going to launch out-of-the-box a blockchain service for Ethereum and Hyperledger Fabric protocols. AWS chief evangelist Jeff Barr wrote in a blog post: “Recently available templates allow …

Australia to Mine Bitcoins by reopening Coal Power Plant

Contract with Crypto Mining firm Signed by Australia to reopen Coal Power Plant A contract has been signed with the IOT Group, a cryptocurrency mining firm by Australia’s Hunter energy to reopen a coal power plant in the Hunter Valley Region of Australia. Although new and advancing technologies are largely …

NY Federal Reserve Chief Nominee says Cryptocurrencies can’t Replace Dollar

Digital Currencies cannot replace Paper Currency says NY Fed Chief Nominee CEO of Twitter Jack Dorsey predicted that Bitcoin would surpass all the world’s currencies in around ten years. But the man nominated to be the head of New York Federal Reserve differs. In a speech on Friday, the present …

Blue Check Mark on Twitter Doesn’t mean your Account is Safe

Bad Checks: Twitter’s Identity Crisis Costs Users More Than Bitcoin According to a Russian Writer, it’s one of crypto’s most generally embraced slogans, though one that’s becoming even more important on social media, where battling factions inclined on promoting the next big high-tech investment are presently turning the very symbols …

Bitdegree Offers Online Courses for Students with Crypto Incentives

Bitdegree a Cryptocurrency Startup Pays Students while Learning Bitdegree, a Lithuanian cryptocurrency startup wants to change the face of online education using their online platform and cryptocurrency. What is BitDegree? BitDegree an online platform with its own cryptocurrency. The firm was founded in 2017. BitDegree plans to change how education …

Press Release

shares