Market Update 9.16.18 – Market Cap to Reach $80 Trillion in Next 15 Years, Says Tim Draper
Market News
Market Cap to Reach $80 Trillion in Next 15 Years, Says Tim Draper
Tim Draper is a well-known venture capital investor. Now, he has predicted that total cryptocurrency market capitalization would likely to hit $80 trillion in the next 15 years. He made the prediction during the DealStreetAsia PE-VC Summit 2018, which was held at Singapore.
Draper believed that the significant slide in digital currencies in recent month is greatly attributed to people who have chosen not to adopt crypto as a new asset class. But as soon as they become more familiar with the technology, it would eventually transform many important industries on an international scale.
“I think it’s going to have such a transformative effect on industries that we never even imagined would be transformable,” he said. “The internet went after industries that were $10–100 billion dollar markets, cryptocurrency will go after trillion dollar markets — these are finance, healthcare and insurance, banking and investment banking, and governments.”
Read the full report here.
Survey Says Women Invest in Crypto at Half the Rate of Men
According to a new study courtesy of crypto finance firm called Circle, millennial women are at half the rate of men when it comes to investing in digital assets. The survey reportedly obtained answers from about 3,000 millennials, including Baby Boomers and Gen Xers in the United States. It also covered issues about associated risk assessment, attitudes towards rising asset classes (i.e. cryptocurrency), and invesments.
The survey adds that at least 25 percent of millennials mentioned being interested in buying digital currencies in the next 12 months. This basically sets them apart from the other generations at around 10 percent. But as far as gender perspective is concerned, 17 percent of male across three generations revealed their plans of buying cryptocurrency, with only 8 percent of women sharing the same idea.
Read the full report here.
Ether Records Highest Daily Trading Volume in 12 Months
The daily trading volume of Ethereum’s Ether token has reached a 12-month high. Dubbed as the second largest digital asset, it managed to experience a 24-hour trading volume of about 850,000 ETH – the highest level it witnessed since September 15 of last year. Its current weekly volume, on the other hand, reached $2.9 million, which is the highest since mid-December 2017.
As for its 24-hour trading volume across all exchanges, it sat at $2.33 billion. This is reportedly the highest level since July 18 this year. The sharp rise in trading volume means that investors got interested in buying the recent dip in ETH, which was below $200.
Read the full report here.
Total Market Cap: Sept 16
The volume of trade in the crypto market reached $10.52 billion. The market’s capitalization, on the other hand, sat at $200.33 billion.
Bitcoin Price Analysis: Sept 16
In the past 24 hours, Bitcoin fell 0.61% to trade at $6,467.93. The leading cryptocurrency’s trade volume trickled to $3.29 billion, while its market slid to $111.70 billion.
Ethereum Price Analysis: Sept 16
Ethereum’s price jumped 0.82% to trade at $215.40. As for the altcoin’s trading volume, it reached $1.72 billion; whereas its market capitalization hit $21.99 billion.
State of the Top 10 Cryptocurrencies: Sept 16
In the past 24 hours, almost all prices were down, with the exception of Ethereum and EOS. Meanwhile, Cardona dethroned IOTA at the 10th spot.
- Bitcoin’s market price fell 0.61% to $6,467.93, and its value in the market is $111.70 billion.
- Ethereum’s market price jumped 0.82% to $215.40, and its value in the market is $21.99 billion.
- XRP’s market price fell 0.01% to $0.277962, and its value in the market is $11.07 billion.
- Bitcoin Cash’s market price fell 3.08% to $435.74, and its value in the market is $7.56 billion.
- EOS’ market price jumped 0.17% to $5.29, and its value in the market is $4.8 billion.
- Stellar’s market price fell 0.44% to $0.200725, and its value in the market is $3.77 billion.
- Litecoin’s market price fell 1.75% to $55.85, and its value in the market is $3.26 billion.
- Tether market price fell 0.15% to $0.999034, and its value in the market is $2.75 billion.
- Monero market price fell 2.98% to $115.04, and its value in the market is $1.89 billion.
- Cardano dethroned IOTA at the 10th spot, with its market price falling 1.14% to $0.067339, and its value in the market is $1.75 billion.