Cryptocurrencies are for all


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Since the invention of first cryptocurrency the overall cryptocurrencies market has evolved from time to time and has reached to total market capitalization of around 237.1 billion U.S. dollars. Crypto market capitalization grew significantly during year 2016 to 2018 from 15 billion U.S. dollar to the present level.

There are approximately 5,392 cryptocurrencies being traded as on 22 April 2020, out of which the top three cryptocurrencies ranked by market value are Bitcoin- worth $181.95 billion; Ethereum- worth $25.48 billion; and XRP (ripple)- worth $8.33 billion.

The cryptocurrency market is decentralized, hence there is an immense potential for upside move. The market capitalization of total cryptocurrencies will surpass its previous top of $566.26 billion during year 2017; and expected to reach $1.00 trillion mark by 2023.

The usage of cryptocurrencies are widening from private transactions to low-cost money transfer; sending non-cash remittances; travel the worlds; and even to buy a Lamborghini. Recently Ripple announced that it had joined Open Payment Coalition, along with 40 global companies and non-profit organizations. It will drive innovation in the global payment segment and simplify payment system for all.

The major cryptocurrencies in focus will be Bitcoin, Ethereum, XRP, Tether, Litecoin, Binance Coin, Stellar, TRON etc.     


By Sandesh Nandode, Forex and Crypto Analyst, Mumbai & Dubai.

Location: Dubai - United Arab Emirates

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