The total market value of encrypted currencies hit a record high of 700 billion U.S. dollars

nRunaway Comment: The total market capitalization of all encrypted currencies exceeded 700 billion U.S. dollars, creating a new high in history. At the same time, driven by the market demand, the proportion of each encrypted currency in the total market capitalization has also been adjusted. Rebo has become the second largest cryptocurrency. Bitcoin prices have fallen as market demand has dropped. However, boosted by the news that venture capital firms bought a large amount of bitcoin, the price of bitcoin swung back immediately, but only afterward fluctuated without any significant new breakthroughs.n
nTranslation: Annie_Xun
The total market capitalization of all encrypted currencies exceeded 700 billion U.S. dollars, creating a new historical peak. The total market capitalization at the time of filing was $ 713 billion. The previous highest point was $ 654 billion on December 21, 2017.n
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Understand bitcoinn
Much of the increase in total market capitalization benefited from gains in non-Bitcoin cryptocurrencies. Demand for bitcoin has recently weakened, causing prices to plummet a few weeks before Christmas.n
Bitcoin fell to $ 11,833 on December 22. A day later, the leading cryptocurrency cameback but then fluctuated more than a week later.n
However, Peter Thiel’s venture capital firm in San Francisco invested heavily in bitcoin news that the price exceeded $ 15,000.n
Overall, bitcoin’s dominance in cryptocurrencies weakened from Tuesday to the lowest in history by 34.97%n
This shift was followed by increases in the price of non-Bitcoin cryptocurrencies, including Rebo, Ether and Stellars, and little-known Tron, and overall gains of more than 20% last week.n
Ribo market value is particularly huge gains, the encrypted currency rose to the second bit after bitcoin. This appreciation is mainly due to the increase in demand in the Korean market.n

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