Market capitalization news

The total value of all company's shares or cryptocurrency coins.

World latest news

XRP: SBI CEO Yoshitaka Kitao says XRP’s market cap will easily overtake that of Bitcoin’s in 2019

According to reports by FX Street and other publications, SBI CEO Yoshitaka Kitao said that XRP’s market cap will easily overtake that of Bitcoin’s by the end of 2019 due to XRP being adopted on a global scale for payments and settlement transactions. Ripple has plans in place to achieve its Internet of Value and allowing its customers across the world to be part of a global ecosystem, RippleNet. R3, another enterprise blockchain software firm, is leveraging XRP and XRP Ledger’s technology to facilitate corporate settlements on the Corda Network. SBI’s Mr. Kitao shares the same dreams, but with respect to Japan and improving its payments industry. Yoshitaka Kitao said, “Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).” Furthermore, Mr. Kitao added that they will be using R3’s Corda and XRP in turn to process international remittances. He continued, “You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.” SBI has strategically placed itself at the center of the cryptocurrency revolution by partnering with important leaders in the cryptocurrency ecosystem, and this involves Ripple, R3 and other companies that are based all across the world. The recent report by SBI published on December 31, 2018, details how SBI plans to achieve their dreams, specifically, Mr. Kitao’s dreams to restructure Japan’s payment industry and make it more efficient as compared to its neighboring countries. Kitao also addressed how Bitcoin has no value to provide if it would be considered in a practical use-case scenario and even said that XRP would satisfy all the demands that Bitcoin couldn’t. The post XRP: SBI CEO Yoshitaka Kitao says XRP’s market cap will easily overtake that of Bitcoin’s in 2019 appeared first on AMBCrypto.
AMBCrypto

Market Cap: A Flawed Ranking System for Valuing Crypto

Market cap is often used as a metric of importance in the crypto industry. Communities will react jubilantly as their preferred coin moves up the rankings. People will often invest in the top X coins based solely on their market cap as they think it is representative of a diversified portfolio. However, is market cap the right metric to focus on? Also read: Coinbase Acquires Cryptocurrency Surveillance Company Neutrino In this post I will explore the fallacy of market capitalization. I will look at the methods with which market cap is often determined and why it could be considered flawed for a number of reasons. I will also touch on other potential metrics which could be more representative of “value.” But first, let’s start with some basics… Recap on Market Cap Market capitalization is a concept that has been borrowed from the traditional equity markets. In the context of a publicly traded company, it is supposed to give a measure of how much the outstanding free float of shares are worth on the market. It is merely calculated by taking the price of the shares and multiplying it by the outstanding free float of shares. Capitalization is often used as a metric of size, value and importance in the equity markets because all the shareholder information can be publicly verified and the shares are often traded on one exchange. There is no disagreement as to the market cap of Coca Cola because analysts can easily replicate it themselves. They can pull the shareholder records from their databases and grab the latest price from the NYSE ticker information. However, the same cannot really be said for the cryptocurrency markets. Market Cap in Crypto When cryptocurrencies first started gaining the public’s attention a few years ago, numerous websites wanted to find a quick and easy way to compare all of the different coins on the market. They needed a simple ranking number that people could use as a rough benchmark. Market cap was one of the most applicable metrics that they could use. It was also relatively easy to understand for those who were new to the cryptocurrency markets. It was understood to imply the total value of all coins in circulation. A problem that is unique to cryptocurrencies though is the fact that this “circulating supply” is often defined subjectively by the coin ranking websites. For example, if we were to take a look at the definition of “circulating supply” on Coinmarketcap (CMC) it states the following. How circulating supply is calculated on CMC. Image via Coinmarketcap. While this seems like a pretty thorough examination of the circulating supply of a project, a great deal of it will come down to the judgement of the folks at CMC. You will have to trust their assessment of what is freely circulating based on information that is provided to them by project teams. As many Bitcoin proponents know, “Don’t trust, verify.” Potential Manipulation of Numbers Something specific that CMC does is exclude the pre-mined coins from the circulating supply of a particular project. While the intentions behind this may be right, there are some negative externalities that come with this. For example, when a project has pre-mined a large proportion of their coins, every time they release these funds, their circulating supply will go up. If these coins are not sold immediately (which impacts price) then the market cap of the coins is also likely to increase. There have been many projects that have been accused of this tactic. While some of them may not have been intentionally seeking to impact price, it is disconcerting that such an important metric can move at the whim of the developers. This is of course only the circulating supply number that we are talking about. We are well aware of how crypto whales are able to impact price in relatively illiquid markets. Through wash trading and limited external demand, nefarious actors can pump the price and hence impact market cap. What Can Be Done? In a sense, the coin ranking websites are in a bind when it comes to market capitalization. They are using it precisely because it is well known, easy to understand, comparable and seemingly applicable. They are trying to provide an objective view of the coin’s total value and the more they try to tweak the formula, the more they can be accused of being subjective. Another coin ranking site, Coingecko, has taken a slightly more transparent and innovative approach to their rankings. For example, when it comes to listing their circulating supply they do not exclude pre-mined coins. They do this more for consistency because technically tokens issued on smart contract platforms are all pre-mined. Similarly, pre-mined coins could potentially already be traded on exchanges because they are not locked. They also give the user more information on how circulated supply is calculated for each coin that they have listed. For example, in the below image you can see the supply numbers for the 0x (ZRX) project. Circulating supply breakdown for ZRX. Image via Coingecko. Indeed, determining the “value” of a cryptocurrency project is itself such an involved discipline. If someone really wanted to analyze this then they would need to look at factors such as on-chain metrics, developer activity, community interest and so forth. In fact, exchanges such as Binance have even started to roll out their “gold standard” metric which awards projects based on their “communication.” Although this is not an endorsement by Binance, projects that regularly communicate with their community could be a valuable metric. Of course, one can’t really look at these other metrics in isolation and compare them to another coin. They have to be broken down and analyzed piece by piece and adjusted for particular technicalities of the coins in question. None of these metrics can be viewed as a potential replacement for the quick-and-dirty measure that comes with a coin’s market cap. They can only be used as a complement to it by the analyst should they decide to delve deeper into the relative “value” of a project. Don’t Get Bitconnect Rekt Market capitalization is a useful metric. It allows us to get a rough sense of the general market value of particular coins that are on the market. However, that is where its usefulness should stop. It should not be used as some sort of a metric of importance, value or market support for the project in question. It is a simple metric which, although useful, can and has been manipulated. While circulating supply numbers can be tweaked to better reflect market dynamics, market cap should be a singular factor in a much more thorough due diligence process. Development, user numbers, scaling and communication should all be thrown into the “DYOR” soup. Let us not forget that Bitconnect was at one time in the top 10 of CMC. If you had invested solely based on this fact, you would have been utterly Bitconnect rekt. Do you think crypto market capitalization is inherently flawed? How useful is market capitalization for determining the crypto market’s total valuation? Images courtesy of Shutterstock, Coinmarketcap, and Coingecko. OP-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article. This article was written by Nic Puckrin. He is an ex Investment Banker and blockchain enthusiast. He has founded several online businesses and fell down the crypto rabbit hole in 2016. When he’s not sitting behind six screens trading Bitcoin, Nic is maintaining his numerous mining rigs. The post Market Cap: A Flawed Ranking System for Valuing Crypto appeared first on Bitcoin News.
Bitcoin News

Walmart Earnings Propel Stocks Higher; Crypto Market Cap Hits $135 Billion

U.S. stocks extended their rally on Tuesday, as a positive earnings surprise from Walmart Stores Inc. (WMT) propelled the major indexes higher. Cryptocurrencies maintained their upward edge with EOS, Stellar and Binance Coin leading the gainers. Relief Rally Continues The major indexes overcame a tepid start to finish sharply higher on Tuesday. The broad S&P […] The post Walmart Earnings Propel Stocks Higher; Crypto Market Cap Hits $135 Billion appeared first on Hacked: Hacking Finance.
Hacked
More news sources

Market capitalization news by Finrazor

Trending

Hot news

Hot world news

Crypto News: Elon Musk Talks Bitcoin and Binance Expands

The cryptocurrency market had quite the shakeup last week, causing a spike in most digital currencies. On Valentine’s Day, six days ago, JP Morgan announced that it would launch a test for its new JPM coin. This was the biggest crypto news to surface in quite some time. Now, digital currencies seem to have corrected, and most are trading red today. In today’s crypto news, we’ll discuss Elon Musk’s interview and the details behind him calling Bitcoin “quite brilliant.” Also, we’ll look into Binance’s new testnet they just released. Crypto News: February 20th, 2019 Elon ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
Crypto Currency News

XRP, BTC and BNB Price Analysis and Prediction

XRP achieves  a high of $0.35499 BTC Targets $4000 level BNB gets over $10 level XRP/USD The rally by XRP in the last few days seemed to have gained momentum as the currency yet again achieved new highs, before tracing its way back to its current level of 0.3380 as of going to press. XRP managed to weather off the bearish engulfing at the dawn of 19th as the bulls managed to strike a price reversal on the upwards and pushed the currency price to a new high of 0.35499. This didn’t last for long though as the bears came calling and pulled the price down to a low of 0.32820. Later, a death cross pattern was formed when the 21 day MA crossed over the 7 day MA seemingly signaling that the price would fall down even further. True to this, the bears pulled the price further down to a low of 0.32363. XRP Forecast Looking at the Moving averages, it seems that an intertwining is imminent.The RSI is between 40 and 60, seemingly portraying that the currency is set to trade sideways. This scenario would be ideal for an intra-range strategy with support levels at 0.32363 and resistance at 0.3521. BTC/USD The price of BTC seems to be striving to achieve and outlive the 4000 territory. Even though there have been instances on the last 24 hours when the bears have pulled the priced below the 4000 mark, the price is currently above $3980 with its next target set for $4000. The RSI is at around 60 seemingly signifying that the price should be headed for consolidation before the next rally. The 7 day and 21 day MAs are also seemingly getting intertwined. This may portray that sideways trading may be in the offing. BTC Forecast The current scenario is ideal for range bound strategies that would set the resistance levels at 4050-4100 and support at 3950-4000. Traders can go long if the price bounces back from the support levels and go short if it pulls back from resistance levels. BNB/USD In the last couple of days, BNB has been experiencing bullish growth last seen in 2017 when it was launched. Currently, RSI levels are close to 70 seemingly portraying that the currency is at overbought levels. The 7 day MA is still maintaining a significant margin against the 21 day MA. Recent efforts by the bears to pull the price back below 10 have borne no fruit. As it is, the currency seems to find solid support at 10.50. BNB forecast Current candle stick formation seems to point to a rising wedge. This may mean that a breakout is imminent and the price may be pulled back. If a breakout occurs, traders can go short and put their support levels at 10.50. The post XRP, BTC and BNB Price Analysis and Prediction appeared first on ZyCrypto.
ZyCrypto

Crypto Firm Gladius Tattles on Itself Before SEC Brings Down the Hammer

The SEC acknowledged a settlement with Gladius Network LLC today. Gladius raised almost $13 million in an ICO at the height of the crypto boom, from October to December 2017. The company tattled on itself last August, self-reporting potential violations to the SEC. As a result, the regulator has been gracious enough to opt not to impose additional financial penalties on Gladius. The catch? Gladius has to offer refunds on all ICO tokens. Gladius Reports Itself to the SEC The settlement is similar to the agreement NEO reached with Chinese regulators. In the case of NEO, the token had already The post Crypto Firm Gladius Tattles on Itself Before SEC Brings Down the Hammer appeared first on CCN
CCN

Elon Musk Praises Bitcoin: “Paper Money is Soon Going Away”

Notorious billionaire and entrepreneur Elon Musk once again expressed his enthusiasm for cryptocurrency and blockchain technologies in the latest episode of ARK Invest’s FYI podcast: “On the Road to Full Autonomy With Elon Musk,” courtesy: bitcoin.com In an interview for Tasha Keeney, Musk pointed out several advantages that cryptocurrencies have over traditional fiat money. For Musk, the future of finance goes hand by hand with a global adoption of cryptocurrencies as a means of payment. Musk supported Jack Dorsey’s idea that Bitcoin could become the native currency of the internet. This notion, which he described as “interesting” has been shared by several influencers such as Tone Vays, Jimmy Song and Max Keiser, who consider that although altcoins have important uses, Bitcoin is the best candidate to become the equivalent of money 2.0. Elon Musk: Bitcoin is The Future… But We’re Not There Yet However, aware that there is still a long way to go for cryptocurrencies to replace fiat money, Musk commented that at the moment he does not plan to invest in developments related to this technology, or even experiment with its use in Tesla: “I think that the Bitcoin structure was quite brilliant, it seems like there’s some merit to Ethereum as well, and maybe some of the others. But, I’m not sure if it would be a good use of Tesla resources to get into crypto.” Musk pointed out that one of the advantages of using crypto is precisely that it gives users the freedom to carry out financial transactions without the restrictions imposed by banks or government agencies. When Keeney commented that certain governments impose restrictions on some inhabitants, Musk pointed out precisely that the cryptos were born to combat this excessive control and that in the future, fiat money as we know it “is going away.” “It bypasses currency controls. Paper money is going away, and crypto is a far better way to transfer value than pieces of paper.” Musk has had a presence in the community for his optimistic statements and vision of the role blockchain technologies will play in the society of the future. Previously during the scams boom on Twitter, Musk jokingly commented  At this point, I want ETH even if it is a scam — Elon Musk (@elonmusk) August 28, 2018 The post Elon Musk Praises Bitcoin: “Paper Money is Soon Going Away” appeared first on Ethereum World News.
Ethereum World News
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.