Cryptocurrencies market cap exceeded $200B

In less than a year the market of crypto-currency grew more than tenfold; continue reading to learn more
03 November 2017   3897

At the moment of press, overall marketcap of cryptocoins, that are represented at Coinmarketcap, reached $200,849,000,000. 

Total Market Capitalization
Total Market Capitalization

The overall growth of the market is largely due to the recent sudden rise in the bitcoin price above $ 7000, the capitalization of which has already exceeded $ 120B. At that, the index of dominance of the first crypto currency is 61.2%. This means that the demand for bitcoin is higher than for all other cryptocoins combined.

Percentage of Total Market Capitalization (Dominance)
Percentage of Total Market Capitalization (Dominance)

Also, many altcoins are now showing growth, adjusting up after a deep dump. Among the top 10 caps on the Coinmarketcap rating, Bitcoin Cash continues to be the growth leader (+ 16% for the day and + 87% for the last 7 days).

Top ten cryptocurrencies
Top ten cryptocurrencies

The total daily trading volume of crypto-currencies also reached record values ($ 9.4 billion).

It should also be noted that at the beginning of this year, the market capitalization of the cryptocurrency hardly exceeded the level of $ 18 billion. Consequently, in less than a year the market of cryptocurrencies grew more than tenfold.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   253

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.