Shiba Inu Continues Its Rise. Bitcoin and Ethereum Are Still Looking Cheap, Analyst Says.

 


The latest financial data for trading volume, as reported by CoinDesk, shows the digital asset market still showed a great level of trading volume that was great despite the worst economic crisis in our lifetime.

Even though the stock market value has almost recovered to what it used to be back in March, crypto traded volumes continue their surge month after month.

According to CoinDesk, there are now 175 million coins in circulation, compared to 1 million a decade ago.

Bitcoin’s payments volume stood at $329 billion in December 2019. This December the number of coins in circulation was on the rise to $373 billion.

Meanwhile, the Ethereum market value reached $161 billion in December, the Ethereum split happened.

By December 29, the value of the cryptocurrency was at $128 billion. This year, Ethereum’s payments volume has reduced to $95 billion, but the quantity of total, as reported by CoinDesk, is still at about $145 billion.

Bitcoin Coin Rate

Bitcoins purchases have increased to $7.4 billion in December, Bitcoin’s sales volume has increased to $2.7 billion. Bitcoin’s total value added up to $7.4 billion.

Founded in 2009, Satoshi Nakamoto, chief inventor of Bitcoin, pioneered a crypto cryptocurrency. His coin turned out to be useful for many applications.

Bitcoin gives users more value than any other traditional currency, the money can be used for many purposes.

Bitcoin Transactions

Up to December 29, there were 22.2 million transactions globally, according to CoinDesk.

Bitcoin payments volume totaled $212 billion compared to $141 billion last year.

According to CoinDesk, that’s the fastest year-over-year increase in the history of cryptocurrency exchanges.

Bitcoin, Ethereum, Litecoin, Ripple, and Dash are still among the most popular cryptocurrency pairings traded daily in January.

Bitcoin and ETH continued to command a trading volume of more than two thirds, for the last few months of the year, according to CoinDesk.

ETH was on the rise. By January 23, its total value climbed to $102 billion. In December, ETH reached $83 billion.

ETH’s monthly market value is still on the rise, to a little over $95 billion. This is an increase of more than 37%, year-over-year, on November 29.

ETH’s total revenue increased significantly to $4.9 billion compared to $2.8 billion.

Litecoin, Bitcoin Cash, Ethereum, and Ripple all continue to be popular pairings in December.

The last time Ether was that high was in early August 2020, which, a day before its token split, touched $147 billion. ETH’s total market value is now $83 billion. The ETH token passed $200 billion this October.

As ETH breached the $100 billion mark, the latest Bitcoin cash acquisition by ETH, went digital token to be digital asset. There are now three Bitcoin cash hacks, which made it a complete cryptocurrency.

Currently, Bitcoin cash has a market value of $6.3 billion.

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