Bitcoin’s recent gains have brought its market cap to $46 billion. At its current size, bitcoin has surpassed the market capitalization of such major companies as Ford Motor Co. F, -0.44% , Deere & Co. DE, +0.01% and Delta Air Lines Inc. DAL, +0.08% It is larger than more than two-thirds of the components of the S&P 500 SPX, -0.10%.
But there’s a whole crypto world out there beyond bitcoin: CoinDesk lists more than 800 cryptocurrencies, though most of them are thinly traded and have market capitalizations under $1 million. Only eight cryptocurrencies are worth more than $1 billion, as you can see in our chart.
Second to bitcoin, ethereum is the most widely used product, with a market capitalization of nearly $24 billion. Ethereum has been an even bigger gainer than bitcoin in 2017. It started the year at $7.98 per coin, and is currently trading at $261 — a rise of nearly 3,200% year-to-date.
Ripple — the third-most valuable on this metric, and which is up more than 25% over the past week — recently cracked $10 billion in value.
Source: Bloomberg
Trader Bozhidar Arabadzhiev
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