Global cryptocurrencies market cap is higher than Korea, South stock of narrow money
The Global cryptocurrencies market cap [ $732B ] is now ( January 03, 2018 at 21:09 UTC ) placed 9th in stock of narrow money country ranking list - higher than Korea, South [ $659B ] and just after Spain [ $842B ] - you may note that this is also representing 1.061 % of wordwide stock exchange market cap [ $69T ].
The global crypto total 24h trading volume is $51B which represents 0.9918 % of wordwide daily FX 24h vol [ $5T ].
BTC market cap [ $255B ] take the 18th place in the narrow money country ranking, higher than Australia [ $243B ] and just under Sweden [ $274B ]
Sources:
- narrow money definition : https://www.investopedia.com/terms/n/narrowmoney.asp #investopedia
- crypto market & btc 24h volume & cap : https://www.coinmarketcap.com #coinmarketcap
- global fx trade vol per day : http://www.businessinsider.com/heres-how-much-currency-is-traded-every-day-2016-9?IR=T #businessinsider
- global worldwide stock exchange market cap : http://money.visualcapitalist.com/all-of-the-worlds-stock-exchanges-by-size/ #visualcapitalist
- country narrow money ranking : http://lopp.net/m1/rank.html #cia
Interesting stats. Does this make cryptocurrency too big to fail?
Good question ! If you compare those stats with some previous (https://steemit.com/cryptocurrencies/@radiuminhuman/global-cryptocurrencies-market-cap-is-higher-than-australia-narrow-money), you will see that in around one month the exchange volume rise from 0.14% to near 1% (of wordwide daily FX 24h) and from 0.35% to near 1% (of wordwide stock exchange market cap). In my opinion this accelerating movement may answer by itself to your question. In order to be sure, we may wait that global cryptocurrencies market cap will take the first place (stock of narrow money) which is $7T (China), still require a x10 multiplicator !!! So we may wait a little bit ;-) You may see the evolution if you look https://steemit.com/@radiuminhuman. Regards