Almost 70 billion US dollars market volume: Crypto currencies as a global trend?

The total market volume of all crypto currencies is close to the USD 70 billion mark – with a strong upward trend.

Only a few days ago, the market capitalisation of all crypto currencies broke through the USD 60 billion barrier. Thanks to strong capital inflows, the USD 70 billion mark will presumably be exceeded very soon.

For several months now, we have been able to observe the news spy

A month ago the total market capitalisation was „just once“ 29 billion US dollars, a week ago it was 52.6 billion US dollars. This means a growth of over 140% within a month or +33% within a week. As reason for the news spy and the rapid growth many investors see the strongly rising interest in Bitcoin and above all also the interest in various Altcoins like this: In addition to many other alternative digital currencies, Ripple, Ethereum and Litecoin are enjoying growing popularity.

The Ripple exchange rate, for example, rose over the course of last week to over 39 cents per digital token. The reason for the price explosion was probably a promise by Ripple to freeze more than 88% of the pre-scraped coins owned by Ripple. The reason for this was a vote of confidence. Investors expressed fears that Ripple could flood the market with its own coins and drastically lower the price. Using smart contracts, 1 billion XRP tokens per month are now to be released over a period of at least 4.5 years. According to Ripple, it holds 61 billion tokens.

As can be clearly seen from the following chart, Bitcoin’s share of the total market volume is constantly declining despite a positive price development. Current market share: 48.6%.

In particular, the strong spread of digital currency in Japan and South Korea as well as political discrepancies in the USA and economic uncertainties are said to have washed new investors into the crypto market. Bitcoin and other digital currencies are increasingly seen as safe havens and secure assets to protect against global tensions. Even Mike Maloney, founder of, the precious metals trading platform, said crypto currencies like Bitcoin are ideal for protecting against a shift in the global monetary financial system.

Where is the journey of the Bitcoin secret going?

Investors and analysts around the globe do not believe that the end of the Bitcoin secret has already been reached. Harry Yeh, Managing Partner at Binary Financial said in an interview about the Bitcoin secret:

„There is certainly still much greater demand. Not just for Bitcoin, but for digital currencies in general.“

Yeh was optimistic about the future and says that this is just the beginning:

„People don’t yet understand that there is much more room for improvement, the whole thing is developing into a global phenomenon. I expect a further rise with some corrections like last week.“

This is the staff of the German blockchain scene

Bear market and price losses at Bitcoin & Co. set aside: The blockchain ecosystem continues to grow. That can hardly be denied. Blockchain jobs in particular are currently in demand. In our BTC-ECHO study we examined the scene: Who earns how much where? What opportunities do young start-ups have to make money and how much can they own in total? And: How are the people who work in the German blockchain scene divided up, how are blockchain start-ups staffed?

In cooperation with BlockState, BTC-ECHO evaluated the data of over 100 companies from the German Blockchain landscape. We asked for financing models, turnover generation and location of the companies. The main findings were not surprising: With 89 companies, Berlin is by far the blockchain capital, most of them dealing with financial technologies and crypto currencies. But how is the staff made up?

Bitcoin secret start-ups: air upwards

In fact, most Bitcoin secret start-ups (in contrast to sales) are comparatively small. Here is the review by onlinebetrug. More than half of all companies reported employing 0-9 people, excluding freelancers. A slightly smaller, but still relatively large proportion of the companies surveyed are in the next larger segment: a total of 30 percent of the companies surveyed employ 10-19 people. The upper end of the scale then becomes increasingly thin: only seven percent of the German blockchain scene still employs 20-29 people. Only one start-up plays a part in the top class of the interviewees and stated that it employs 90-100 people.

The lion’s share in the cryptosoft development sector

Even though ICOs in particular are often said to do a lot of cryptosoft marketing without attaching great importance to technology: results speak a different language. On average, 40 percent of our staff work in the field of software development. Second and third places are close together: 22 percent go to management and 21 percent of the staff work in the area of analysis and research.

If you want to learn more about the German blockchain culture, you can do so on our official study page.

By the way: Although there are sometimes very few people working in the start-ups, the record in the funding amounts is 100 million euros. Blockchain developers in particular are in great demand here. If you have an itch in your fingers, check out our job exchange.

We are also constantly on the lookout for new employees. Here you can find the job offers of BTC-ECHO.

Intel: Green light for Bitcoin mining patent

Chip giant Intel received a patent for energy-efficient Bitcoin mining on 27 November. According to the company, this will reduce electricity costs and the size of the chips by up to 15 percent.

After Intel had already filed an application for a patent to optimize Bitcoin mining in March of this year, the company can now claim another success for itself. On November 27, the United States Patent and Trademark Office gave the chip manufacturer the go-ahead for a patent application filed in 2016. The patent details show how mining can be made more energy-efficient.

Increased efficiency by fixing cryptosoft parameters

The cryptosoft mining process is one of the pillars that gives Bitcoin its decentralised character and ensures consensus within the cryptosoft network. The miners solve a puzzle in a CPU-intensive process in which the SHA-256 hash of an input value must be smaller than a certain target value. ASICs, dedicated Bitcoin Mining hardware, are able to perform a large number of these hashing operations in parallel.

The patent-pending execution forms now divide the ASIC hashing process into several stages. This saves checking the hashes after each increase of the „nonce“. In this way, miners should be able to determine earlier whether an input value is suitable for the solution. According to Intel, this has the advantage that power consumption and chip size can be reduced by an estimated 15 percent.

The crypto trader has reason to be happy

Developments such as these are particularly welcome in times when Bitcoin’s share price is comparatively low. A low price puts great pressure on the crypto trader as they can no longer mine profitably. According to an estimate by Mao Shixing, the operator of the Chinese mining pool F2Pool, 600,000 to 800,000 miners have ceased mining since mid-November alone.

This is understandable if one considers the estimates of real mining costs from the recently published report by CoinShares Research. According to this, the costs for mining from a Bitcoin are around 6,000 euros, based on electricity costs of 5 cents per KWh and a hardware lifetime of 18 months. This means that mining is currently only profitable under very specific conditions, such as even lower electricity prices. It is therefore to be welcomed that further chip manufacturers are entering the market and that the market for mining hardware is no longer in the hands of a few players.