Bitcoin

Bitcoin capitalization reached a new historic high

Bitcoin capitalization hits record high

The market valuation of the first cryptocurrency rose above $431 billion for the first time in history. At its peak in December 2017, it did not exceed $340 billion. At the same time, bitcoin continues to grow rapidly. While the cryptocurrency was trading near $22,200 in the morning, it is now worth about $23,000. FxPro’s team of analysts notes: „It’s pretty remarkable that exactly three years ago on December 17, 2017, bitcoin set its previous all-time high. What the new record will be will depend on the actions of institutional investors. Retail players are reaching out to the market now, but it will be quite dangerous to open positions as part of a short-term strategy at such high levels.“

Paxos raised $142 million from PayPal and other investors

Paxos completed a Series C investment round that raised $142 million. Participants in the round included PayPal Ventures, Declaration Partners, RIT Capital Partners and U.S. investment banker-billionaire Ken Mulis. The total amount of funds it has raised so far has exceeded $240 million. According to The Block, Paxos has held the tenth largest investment fundraiser of all time among cryptocurrency and blockchain companies. Paxos intends to use the money raised to attract Wall Street players to its solutions. Among other things, the company intends to obtain a national bank license. Paxos says that strengthening relationships with regulators and increasing assets will help it interest new customers.

American Express has invested in cryptocurrency company FalconX

The venture capital arm of payments giant American Express has invested in FalconX, a cryptocurrency trading platform aimed at institutional investors. The amount of the investment is unknown. FalconX provides institutional customers with access to cryptocurrency markets through a single trading, lending and clearing platform. The company serves more than 250 institutional clients and has a transaction volume of about $3 billion a month. American Express Ventures global development director Harshul Sanghi said, „FalconX helps provide simplicity in the increasingly complex digital asset space with a platform that provides all information and pricing in one place.“

Guggenheim Investments: A fair price for bitcoin is $400,000

Scott Minerd, chief investment officer at Guggenheim Investments, which has more than $230 billion under management, said that at current prices, bitcoin is an extremely undervalued asset. Minerd said his company began investing in bitcoin profit secret at around $10,000. He said, „Our fundamental work shows that bitcoin should be worth about $400,000.“ Guggenheim Investments analysts came to this conclusion based on two factors: bitcoin’s limited issuance and its value relative to gold. According to Minerd, the cryptocurrency shares many characteristics with the precious metal, but at the same time „has an extraordinary value in the context of transactions. That said, Minerd said buying bitcoin above $20,000 seems „a little more problematic.“

The cryptocurrency market’s aggregate capitalization as of 5:30 p.m. is $655,722,331,364. The 24-hour trading volume was $251,798,175,565

  • Bitcoin rose 16.26% to $23,064.77
  • Ethereum rose 11.1% to $661.98
  • XRP rose by 30.02% to $0.597
  • Tether fell in price by 0.12% to $0.999
  • Bitcoin Cash rose 10.06% to $320.86

The best growth among the top 100 cryptocurrencies showed: XRP (+30.02%).

Mining profitability

  • Bitcoin: $0.129 per 1 TH/s
  • Ether: $0.0422 per 1 MH/s
  • Bitcoin Cash: $0.164 per 1 TH/s
  • Lightcoin: $3,027 per 1 GH/s
  • Dash: $0.0111 per 1 GH/s