Cryptocurrency Market Broke $50 Billion, What Have We Learned So Far?

As of May 12, the cryptocurrency market cap is at $53.9 billion, with bitcoin leading the market with a staggering $30 billion market cap and other alternative cryptocurrencies or altcoins such as Ethereum, Ripple and Litecoin maintaining their upward momentum.

Ethereum in particular has seen a rapid growth in its market cap ever since the launch of the Enterprise Ethereum Alliance, an Ethereum consortia wherein leading conglomerates such as Microsoft and JPMorgan are actively investigating into the potential of Ethereum and building decentralized applications on top of the protocol.

In fact, Ethereum and Ripple, the second and third largest cryptocurrencies or digital assets, have respectively seen 8.95x and 33x increase in their market cap year-to-date, pushing the global cryptocurrency market to new highs.

Since mid-2015, Bitcoin has sustained its appeal to a wide range of investors as digital gold and settlement network. Transactions are quite expensive and there are occasional delays but as a store of value and safe haven asset, bitcoin has demonstrated its potential over the past few years. In relatively short period of time,

Read more ... source: CryptoCoinsNews

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