What You Need To Know About The Bitcoin And Blockchain Markets
Bloomberg Businessweek has released its annual cryptocurrency index, the “s&p 500 Chart of the Day.”
The index tracks a variety of digital currencies, which have been rising in popularity and have risen sharply in value as they gain mainstream acceptance and mainstream adoption.
Bitcoin is currently the No. 1 cryptocurrency, with a market cap of $7.2 billion, followed by Ethereum ($7.7 billion) and Litecoin ($6.5 billion).
Ethereum and Litecoins are up more than 50 percent from their respective lows in the last three months.
The chart looks at the market cap, volume, price, and average transaction size for the top 200 digital currencies in terms of market cap and average price.
The index is based on transaction volumes across the 500 most active cryptocurrencies across five major digital currency markets: the US dollar, the euro, the Chinese yuan, the Japanese yen, and the Australian dollar.
The average transaction volume in each of the top five digital currencies is $100 million.
Ethereum is currently trading at $724.16 per coin, and LiteCoin is trading at a $10.7 million average transaction.
The top 50 digital currencies trade at an average of $10 billion.
The Bloomberg list, which uses data from blockchain research firm Chainalysis, includes digital currencies that are still in the process of being rolled out to exchanges and consumers.
The list includes BitShares, the Bitcoin Core protocol, the Ethereum blockchain, Ripple, Stellar, Monero, Dash, Ripple Cash, and Ripple Nano.
Bloomberg Businessweek will continue to update the chart as new digital currencies are released, but the index is not an exact measure of market capitalization, liquidity, and trading volume.