Top 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

Top 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months

The year 2020 has witnessed a significant growth of the crypto market, with digital coins quickly recovering after the March crash and performing as a store of value in times of stock market fluctuations.

According to data presented by Stock Apps, the combined market capitalization of Bitcoin, Ethereum and Tether, as the three leading cryptocurrencies, hit $273.5bn this week, an 83% jump since January.

Top 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months
Photo by Bermix Studio

Combined Market Cap Surged 156% After COVID-19 Crash

After an impressive performance in the first two months of 2020, the combined market capitalization of Bitcoin, Ethereum and Tether stumbled to $106.51bn on March 15th, revealed the CoinMarketCap data. However, the world’s three leading digital currencies quickly recovered, with their values growing above January and February levels.

- Advertisement -

In June, the top three cryptocurrencies’ combined market cap hit $202.37bn and continued growing. Statistics show that in September, this figure peaked at $287.25bn. Although the market capitalization of Bitcoin, Ethereum and Tether slightly dropped to $273.5bn in the second week of October, this value still represents a 156% jump compared to March figures.

As the world’s leading cryptocurrency, Bitcoin witnessed a 64% increase in market capitalization since the beginning of the year. In January, the combined value of all Bitcoins circulating in the crypto space amounted to $130.54bn. After a sharp fall to $88.96bn in March, this figure peaked at $220.17bn in September. Statistics show the market cap of the leading digital currency globally stood at $214.05bn at the beginning of this week.

Read Also:  Peer-to-Peer Trade: Nigeria is the 2nd most active country where Bitcoin is traded globally, after China

Tether Market Cap Soared by 283% in 2020

The CoinMarketcap data indicate that Ethereum also witnessed impressive growth in 2020. In January, the market capitalization of the second-largest cryptocurrency globally amounted to $14.22bn, nine times less than the leading Bitcoin. In the next two months, the combined value of all Ethereum coins dropped to $12.91bn. However, the Ethereum price soon recovered, with the market cap jumping to $25.10bn in June. After hitting a $53.72bn value in September, the market capitalization of the world’s second-largest digital currency dropped to $43.75bn this week, still, a 207% increase compared to January figures.

Statistics show that Tether, the world’s most used stable coin, witnessed the biggest market capitalization growth in 2020. In January, the market cap of the third-largest cryptocurrency amounted to $4.1bn. At the beginning of this week, it stood at $15.63bn, a 283% jump in nine months.

- Advertisement -
Top 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months - Brand SpurTop 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Top 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months - Brand SpurTop 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months - Brand Spur

Latest News

Demand for Second Passport Surges by 50 percent amid Covid-19 restrictions

National lockdowns, closed borders and travel restrictions have helped drive up enquiries for second passports, citizenships and overseas residencies...

A Tale of two markets – Capital Market Review November 2020

The Nigerian capital market witnessed a historic month on two fronts buoyed by increased system liquidity in the past month. Daily OBB and ONN...

Zedcrest Wins Diversified Financial Services Group Award for the Second Consecutive Year

...as Zedvance Emerges 2020 Best Automated Loan Origination and Processing Company Lagos, Nigeria – 30 November 2020: New-age financial solutions powerhouse, Zedcrest Group has again won...

iText Software is a Digital Signing Partner of Government Technology Agency of Singapore (GOVTECH)’s National Digital Identity (NDI) Program

GHENT, BELGIUM - Media OutReach - 2 December 2020 - From 5 November 2020, SingPass users can use the new "Sign with SingPass" feature to electronically sign contracts, agreements and...

POND’S Presents Skin Advisor Live on Shopee to Address Consumers’ Skincare Woes

JAKARTA, INDONESIA - Media OutReach - 2 December 2020 - It's no secret that the pandemic situation has brought many changes to our lives. Continued working from home,...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Top 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months - Brand SpurTop 3 Cryptocurrencies Hit $273.5bn in Market Cap, an 83% Jump in 9 Months - Brand Spur