Bitcoin’s market cap exceeded 71.75 percent on December 27, the highest level since mid-September 2019. This surge coincided with the world’s largest cryptocurrency to rise above the $ 28,000 mark for the first time in history.
Bitcoin is bigger than Samsung now
With a market value of $ 513 billion, the Bitcoin network has now become more valuable than the credit card Visa and the South Korean tech giant Samsung.
The cryptocurrency has increased by over 293 percent so far, after growing nearly 20 percent in the last four days alone.
The total value of the crypto money market currently stands at $ 727 billion.
Bitcoin eats XRP’s lunch
XRP, the fourth largest cryptocurrency, surprisingly failed to catch up with Bitcoin’s latest rally.
The controversial token was removed from multiple exchanges, including Bitstamp, after its affiliate blockchain company Ripple was sued by the SEC.
In fact, Adam Cochran, partner at Cinneamhain Ventures, assumes that “too much XRP” actually flows into Bitcoin, adding more fuel to his rocket.
Since the case was announced on December 22, Bitcoin’s dominance has increased by 6.5 percent.
Chainlink (LINK) is also under pressure and has fallen over 4 percent since the start of the day.