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   3369

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.

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   553

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.