The cryptocurrency market cap passes $600 billion

It’s been a few days since Bitcoin’s growth rate slowed down a bit, while other cryptocurrencies are having a great time. All this contributed to the general market cap reaching a new milestone, of over $600 billion.

According to Mashable, Ethereum, which is now the second largest coin, considering the market cap, is currently trading at $850, a new all-time high. This comes after nine incredible days, in which it doubled its price, reaching a capitalization of $82 billion.

Bitcoin is finally slowing down

Bitcoin, on the other side, generated a $318 billion market until now and kept growing, but at a slower pace. At this very moment, it’s trading at $18,265, showing that it’s still very hard to reach the psychological milestone of $20,000, despite being very close to this twice.

Both cryptocurrencies had a great month until now, as two of the largest exchanges in the world, CBOE and CME, started trading Bitcoin futures, while Bitcoin Gold is also doing very well, with a market cap of more than $5.5 billion.

Ethereum even has a slight advantage now, after it was mentioned by SEC Chairman Jay Clayton, who talked about the current state of ICO, crowdfunding events usually organized on ETH’s platform.

He warned potential investors about the dangers of unregulated ICOs, but he also wanted to mention that some digital tokens generated in initial coin offerings are not securities and won’t fall under SEC’s regulations either.

New competitors are rising quickly

Besides these two important cryptocurrencies, there are also some very important ‘players’ which grew a lot.

Ripple and Litecoin, the fourth and fifth largest coins, by market cap, have grown triple digits in the past days.

Cardano, which is similar to Ethereum, registered a fivefold growth in one week as well, from $0.12 to $0.58, being now the sixth-largest cryptocurrency. Other coins, including IOTA or Dash, also increased their values, at a similar pace.

All these contributed to the general market cap of $639 billion and we tend to believe that the media’s recent attention to such topics can make it go even further than this value.