The bitcoin price has surged by seven percent in the past several hours from $7,300 to around $8,000 in major markets including the U.S., demonstrating a strong recovery from its abrupt drop to $6,400. Continue reading Here’s What Triggered Bitcoin Price Above $8,000
Many in the crypto community remained calm and banded together despite the steep drop in the bitcoin price on the heels of an otherwise incredibly bullish month. Continue reading Crypto Bulls and Bears Wrestle on What Comes Next for the Bitcoin Price
The Famous XRP Army has been during the last months, the manifestation of Ripple’s acceptance beyond the boundaries of being a product oriented to satisfy the requirements of the traditional players in the world of financial services. Continue reading XRP Army May Not Be What You Expect and This Analyst Explains Why
With Bitcoin’s exponential growth and its overall success, new investors are looking to invest in cheaper digital coins in hopes of catching the next coin on its path to reach $3,800.
Investors prefer to buy coins which are as cheap as a fraction of a penny hoping to see the same results as was seen in the case of Bitcoin (BTC) and Ethereum (ETH). But, they often ignore one key ingredient: Circulation Supply.
At the time of writing this post, BTC has a circulating supply of 17.5 million coins, with the highest amount of bitcoin being capped at 21 million coins depending on the code.
With the existing price of around $3,800, that brings the market cap to roughly $68 Billion, market capitalization measures the total sum of coins in circulation times with the current market price (17,583,862 BTC x $3,878.74 ~ 68,190,216,836). This gives Bitcoin the largest market capitalization of any coin, at the time of writing (March 3rd, 2019).
What tends to happen is that new investors buy into crypto projects with billions of coins in circulation hoping that they would rise to prices similar to BTC. But, that’s impossible! Here’s why?
Imagine a project, ABC, that has 50 billion coins in circulation. Let’s say today, 1 ABC = $0.10, that would bring the market capitalization of ABC to $5 Billion (50 billion x $0.10).
The Bancor Network is a cross-chain cryptocurrency conversion platform that lets you convert between Ethereum and EOS tokens (others are in the works) without the need of a middleman or other third party. Bancor Network Token (BNT) is the intermediary token used by Bancor to initiate exchanges. It’s both an ERC-20 token and EOS token. Continue reading What Is Bancor Network Token? Introduction To BNT Token