Bitcoin Market Cap Briefly Surpasses That of JPMorgan

Bitcoin’s market valuation briefly surpassed that of JPMorgan, the world’s largest bank, earlier today, on December 8. Bitcoin Market Cap Briefly Surpasses That of JPMorgan, Based on South Korea’s Trading Price George Kikvadze, a highly regarded bitcoin investor and the vice chairman at major bitcoin mining firm Bitfury, revealed that the market cap of JPMorgan at $363 billion was surpassed by bitcoin, based on its price in South Korea. As CCN reported yesterday, the South Korean bitcoin exchange market often demonstrates premiums that are significantly higher than other major regions…

Bitcoin Price Ebbs From $18,000 High as Market Continues to Set Records

The bitcoin price made another bullish run on Thursday, reaching above $18,000 for the first time in its brief history. Friday morning, however, the bitcoin price began to ebb from this peak, providing altcoins with an opportunity to begin to mount a recovery after Thursday’s carnage. Source: CoinMarketCap At the height of the rally, bitcoin carried the cryptocurrency market cap above $450 billion, briefly making the sum total of all cryptocurrencies more valuable than tech conglomerate Alibaba. However, at the time of writing, the cryptocurrency market cap was valued at…

The Blockchain Token Velocity Problem

Kyle Samani is the co-founder and managing partner of Multicoin Capital, a new thesis-driven crypto fund that invests with a multi-year time horizon in blockchain tokens. Basically, all token pitches include a line that goes something like this: “There is a fixed supply of tokens. As demand for the token increases, so must the price.” This logic fails to take into account the velocity problem. In this post, I’ll explain the velocity problem by providing an in-depth example. Then I’ll examine mechanisms that reduce velocity. A high-velocity example Ticket fraud…

a Run-Down of Thursday’s Dizzying Movements

Widespread outages. A $4,000 spread between two of the largest Western exchanges. The fastest $1,000 bitcoin price surge in history. Those were just a few of the events that bitcoin traders encountered on Thursday — a day that proved to be one of the most frantic in recent memory. The bitcoin price began the day on an incline, punching through $15,000 less than 24 hours after reaching $13,000. The rapidity of bitcoin’s climb triggered a mass exodus from the altcoin markets, as traders rushed to increase their bitcoin holdings to…