The Bitcoin network has hit another milestone this week as
its realized market capitalization has reached $100 billion. Additionally hash
rates are hovering around all-time highs and dominance has topped 70% again as
the network goes from strength to strength.
Bitcoin Realized Market Cap Peak
Data by analytics firm CoinMetrics revealed a new all-time realized market capitalization high of $100.2 billion yesterday. This figure, which differs from regular market cap, is calculated by multiplying the price each Bitcoin last traded at by the size of each trade.
Crypto trader Nic Carter posted the chart earlier this
“Realized cap roughly (but not perfectly) measures the average cost basis of Bitcoin holders. It takes into account the price at which a given coin last changed hands (rather than treating them uniformly, as market cap does)”
Cryptography expert Nick Szabo added a volatility chart
showing that that is also decreasing over time, stating;
“The long-term chart reflects the superior deep safety, global seamlessness, and monetary soundness of Bitcoin.”
The other measure of market cap, as used by Coinmarketcap.com
and other crypto outlets, is currently $185 billion. This is derived by
multiplying circulating supply by latest trading price but it does not account
for lost or unclaimed assets which would lower the real supply figures.
BTC Hash Rate and Dominance
In addition to this milestone, Bitcoin hash rate is still
very close to its all-time high despite major flooding in China’s Sichuan
province last week. It was feared that the damage to a number of BTC mining
farms would negatively affect network computing power but this has not
According to Bitinfocharts.com network hash rate hit 80.176 EH/s over the weekend which is second highest to its ATH of 80.249 EH/s earlier this month.
price took off again during Asian trading this morning topping out at just
below $10,700. Following the pump, BTC corrected back to just below $10,400 where
it has remained since. The spurt lifted dominance back over 70% again as the
altcoins failed to gain any momentum. According to Tradingview, BTC dominance
topped out at 72.5% earlier this month, its highest level for over two years.
All three metrics are extremely
bullish for Bitcoin which is currently dominating crypto markets and out
performing nearly all other altcoins this year. Only Binance Coin can boast a better
performance but considering its nature, BNB behaves more like a security than a