{"id":50559,"date":"2017-11-04T05:55:34","date_gmt":"2017-11-04T05:55:34","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=50559"},"modified":"2017-11-04T05:55:34","modified_gmt":"2017-11-04T05:55:34","slug":"cryptocurrencies-market-cap-hits-record-200-billion-as-bitcoin-soars","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/cryptocurrencies-market-cap-hits-record-200-billion-as-bitcoin-soars.html","title":{"rendered":"Cryptocurrencies market cap hits record $200 billion as bitcoin soars"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">Cryptocurrencies market cap hits record $200 billion as bitcoin soars<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Cryptocurrencies market cap hits record $200 billion as bitcoin soars: The aggregate value of all cryptocurrencies hit a record high of over $200 billion on Wednesday, according to industry website Coinmarketcap, putting their reported market value at more than that of U.S. banking giant Citigroup (C.N).<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The new record came as the biggest and best-known cryptocurrency, bitcoin, hit a record high of $7,500 BTC=BTSP on the Luxembourg-based Bitstamp exchange, after a more than tenfold increase in value over the past 12 months.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">That took its own \u201cmarket cap\u201d &#8211; its price multiplied by the number of coins that have been released into circulation &#8211; to a record high of more than $120 billion.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The second-biggest cryptocurrency, ether &#8211; sometimes known as \u201cEthereum\u201d after the project behind it &#8211; has a market cap of just below $30 billion, with another 1000 or so rival digital currencies making up the rest of the $200 billion.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">If the cryptocurrency market were a company, its valuation would put it in the top 25 firms on the S&amp;P 500 .SPX stock index.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The latest surge in bitcoin was driven by news this week that CME Group (CME.O), the world\u2019s largest derivative exchange operator, would launch bitcoin futures in the fourth quarter of the year, as well as speculation that Amazon could be set to accept the digital currency.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Many are concerned that the market represents a bubble, with the latest warning coming from the head of Credit Suisse on Thursday.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt;color: #000000\">Source:https:\/\/www.reuters.com\/article\/us-global-markets-cryptocurrencies\/cryptocurrencies-market-cap-hits-record-200-billion-as-bitcoin-soars-idUSKBN1D31I6<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/cryptocurrencies-market-cap-hits-record-200-billion-as-bitcoin-soars.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies market cap hits record $200 billion as bitcoin soars Cryptocurrencies market cap hits record $200 billion as bitcoin soars: The aggregate value of all cryptocurrencies hit a record high of over $200 billion on Wednesday, according to industry website Coinmarketcap, putting their reported market value at more than that [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":50573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[92756,30037,30036],"class_list":["post-50559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cryptocurrencies-market-cap-hits-record-200-billion-as-bitcoin-soars","tag-usa-business-and-regional-news","tag-usa-latest-business-and-regional-news"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/50559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=50559"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/50559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/50573"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=50559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=50559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=50559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}