The most troubled major cryptoasset, XRP, is the best performing coin in the top 10 club today, while the most popular cryptocurrency, bitcoin (BTC), just surpassed USD 39,000, helping the total crypto market capitalization surpass USD 1 trillion for the first time. (Updated at 16:27 PM UTC with the latest market data, a new comment has been added).
At pixel time (16:25 PM UTC), XRP trades at USD 0.364 and is up by 46% in a day and 66% in a week, trimming its monthly losses to less than 44%.
XRP price chart:
The token is rallying despite numerous bad news that keep coming for XRP and the lack of good news.
🤡🤡🤡
Never change CT https://t.co/B2ntH4ddyV
— Livercoin (@Livercoin) January 7, 2021
In the meantime, BTC smashed USD 39,000 today. It trades at USD 39,197 and is up by 12% in a day and 37% in a week. The price more than doubled in a month and rallied by 363% in a year.
Also, the total market capitalization now stands above USD 1 trillion. Bitcoin dominance, or the percentage of the total market capitalization, is around 68%.
As reported, as bitcoin’s latest surge continues to convert ranks of legacy finance institutions into crypto-enthusiasts, legendary investor Bill Miller predicts that “the current relative trickle into bitcoin” could become “a torrent.”
Also, Revolut said it has attracted 300,000 new crypto customers over the last 30 days, while around 100,000 of those signups came since the beginning of 2021, Business Insider reported. At the same time, crypto trading startup Luno said that it recently surpassed 6 million customers and has seen a surge in activity in recent days, the report added.
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Other reactions
Tuur nailed this one back in May with BTC trading at $9k
“It’s institutions that are interested and it’s a land grab phase.” –@TuurDemeester pic.twitter.com/trjeUVNxqV
— Connor Dempsey (@Cdempsey44) January 7, 2021
Crypto market cap is closer to $1.5 trillion already if you factor in enterprise values of its startups.
Coinbase, Binance, Huobi, DCG, Kraken, others are comfortably in the decacorn club.
— 0xRyanSelkis (@twobitidiot) January 7, 2021
#Bitcoin is now worth more than Tesla. So, will you accept it, @elonmusk? pic.twitter.com/kgSBdgcbMZ
— Documenting Bitcoin 📄 (@DocumentingBTC) January 7, 2021
— Fatih $=1/∞ (@FatihSK87) January 7, 2021
If your parabola is looked at on a log scale then you actually understand the parabola.
Your time frame is off.
If the #bitcoin runs to $120K before a major selloff you will be wearing a massive omlette on your face.
But I don't chase either.#bitcoin is not a stock. https://t.co/d6fj3kw4gc
— Pleb_BitcoinT.I.N.A.☣️- "TINA" #bitcoin (@BitcoinTina) January 7, 2021
#Bitcoin has crossed the rubicon
— ParabolicTrav (@parabolictrav) January 7, 2021
In other words, the BTC bull run is just getting started. https://t.co/QR1KA5L1M4
— Marc van der Chijs (@marcvanderchijs) January 6, 2021
"If #bitcoin never existed gold would be rallying even more right now, but I guess if you are under 40 bitcoin is your new gold," says Kevin Warsh. pic.twitter.com/1xp16aE8QS
— Squawk Box (@SquawkCNBC) January 6, 2021
Great thread from @kenoshaking!
This graph beautifully depicts the narrative of the current bull market.
Liquid-illiquid BTC supply ratio has been falling to an extent never seen before.#Bitcoin
Liquid/illiquid supply data: https://t.co/6qknE0H3qv https://t.co/aUsr79wFUP
— Rafael Schultze-Kraft (@n3ocortex) January 6, 2021
Find more insights and forecasts about the recent rally here.
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Source: Cryptonews
