CRYPTO INSIDER: Alt-coins take over
Advertisement
Reuters / John Gress
Advertisement
Welcome to Crypto Insider, Business Insider's roundup of all the bitcoin and cryptocurrency news you need to know today. Sign up here to get this email delivered direct to your inbox.
The overall value of the global cryptocurrency market surpassed $700 billion on Wednesday to reach a fresh all-time high, with bitcoin's share of that fortune shrinking.
Here are the standings as of Wednesday morning:
- Bitcoin (BTC): $15,055.28 (+1.91%)
- Ripple (XRP): $2.582 (+18.33%)
- Ethereum (ETH): $875.75 (+1.74%)
- Bitcoin Cash (BCC): $2,615.13 (+2.75%)
What's happening:
Advertisement
- Bitcoin's share of the cryptocurrency market hit an all-time low thanks to huge surges in the market caps of smaller digital coins.
- Bitcoin got a boost Tuesday thanks to a WSJ report which said Peter Thiel's Founders Fund had amassed a substantial holding of the cryptocurrency.
- The cofounder of Ripple is now one of the world's richest people thanks to his significant holdings of XRP, which has skyrocketed over 37,000%.
- Overstock is the "clear leader" when it comes to emerging blockchain stocks, a D.A. Davidson analyst said Wednesday.
- Finally, Israeli online trading platform Plus500 raised its profit forecasts for the year on Wednesday, saying it has benefitted from the booming popularity of cryptocurrencies like bitcoin.
Get the latest Bitcoin price here.>>
EXCLUSIVE FREE REPORT:
The Bitcoin 101 Report by the BI Intelligence Research Team.
Get the Report Now »
The Bitcoin 101 Report by the BI Intelligence Research Team.
Get the Report Now »
Advertisement
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador