Cryptocurrency market cap surpassed $500 billion

The volume of total market capitalization of cryptocurrencies has climbed up to the point of $513 billion and the leading cryptocoins continue to grow in price
14 December 2017   2058

The total market capitalization of cryptocurrency has reached another milestone breaking the point of half trillion USD. The volume of market capitalization reached the mark of $500 billion on December 12 and currently continues to rise.

Global market capitalisation chartsGlobal Market Capitalisation Charts

In the meantime, Bitcoin remains dominant over all other cryptocurrencies having the dominance index of 54,9%. Nevertheless, altcoins are starting to gain better positions becoming more dominant than they used to be. For instance, the dominance index of Ethereum is 14,09% and dominance of Bitcoin Cash is 6,21% as of December 14, 2017.

Percentage of total market capitalization dominancePercentage of total market capitalization (dominance) during past 3 months

What is more, all top cryptocurrencies have shown the notable price rise during past week, and the leaders in the increase of price are Litecoin, which rose 205% reaching the price mark of $295, and Ripple, whose price grew 163% to the point of $0,59.

Top cryptocurrencies list ranked by market capitalisationList of top cryptocurrencies ranked by market capitalisation

The total volume for the past 24 hours has exceeded the mark of $35 billion.

Previously, we have reported that in the beginning of November, the total market capitalization of cryptocurrencies exceeded $200 billion, which shows that market cap faced an unexpectedly rapid increase only within one month and a half, growing by more than $300 billion.

At the moment of press, the total market capitalization is $513 650 528 354.

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   98

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin