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   1664

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.

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   101

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.