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Dec. 7, 2017, 9:07 a.m. EST

Bitcoin makes up more than half the $400 billion cryptocurrency market. Here’s the rest

Nearly 90 digital currencies are valued at more than $100 million

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By Ryan Vlastelica


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Back in June, the combined market capitalization of all cryptocurrencies hit a notable milestone when the industry surpassed $100 billion. Now, bitcoin alone is worth more than twice that.

The entire cryptocurrency market has a capitalization of $404.4 billion, according to CoinMarketCap; the industry broke above the $400 billion level early on Thursday. While the lion’s share of that is bitcoin, there are plenty of digital currencies beyond that with considerable valuations. There are three digital currencies with a market cap greater than $10 billion and a fourth—the high-flying IOTA—with a value that hovers near that level. There are 18 with a value greater than $1 billion and nearly 90 digital currencies are valued at more than $100 million.

Read: Here’s why UBS is bullish on blockchain, but not bitcoin

However, the swelling of the universe this year is largely attributed to bitcoin /zigman2/quotes/31322028/realtime BTCUSD +0.05% , which has gone from trading under $1,000 at the end of 2016 to nearly $13,000 today. That has given the world’s largest digital currency a market cap of about $219.6 billion—bigger than all but 16 components of the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.79% .

Separately, Ether, which runs on the Ethereum blockchain, has enjoyed a 5,300% rally in 2017, bringing its own market cap up to $42.3 billion.

So what makes up the rest? Here’s a chart breaking down the major players.

/zigman2/quotes/31322028/realtime
US : CoinDesk
16,978.20
+7.95 +0.05%
Volume: 0.00
Dec. 6, 2022 5:01a
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,998.84
-72.86 -1.79%
Volume: 0.00
Dec. 5, 2022 5:05p
loading...

Ryan Vlastelica is a markets reporter for MarketWatch and is based in New York. Follow him on Twitter @RyanVlastelica.

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