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Despite dropping 50% from its all-time high, Bitcoin still ranks among the top 30 cryptocurrencies in the world.

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Despite dropping 50% from its all-time high, Bitcoin still ranks among the top 30 cryptocurrencies in the world.

Bitcoin recently fell below the ten thousand mark, but it still ranks among the top 30 currencies globally, making it a significant player in the global currency market. This is particularly noteworthy for a currency that is only a decade old and is currently trading at less than 50% of its all-time high.

Satoshi Value Stable Growth

Despite positive news such as the launch of physically-settled Bitcoin futures by Bakkt, the market has responded rather tepidly, with Bitcoin still hovering below the $10,000 mark. However, the value of the smallest unit, "Satoshi," remains higher than the official currencies of certain countries:

  • Vietnamese Dong
  • Indonesian Rupiah
  • Iranian Rial
  • Guinean Franc
  • Sierra Leonean Leone
  • Uzbekistani Som

In fact, the exchange rate of Bitcoin against the US dollar has been steadily increasing. The continuous devaluation of official currencies around the world is an undeniable fact.

Source: usdsat

According to a previous report by ABM, the research from the crypto analytics firm CryptoVoices indicates that Bitcoin ranks 11th globally in terms of market capitalization. This data slightly differs from the research by Blocktown Capital during which Bitcoin was priced at $11,871.

Further Reading

  • Bakkt's physically-settled Bitcoin futures officially launched with a lukewarm market response
  • Crypto charity organization "Bitcoin Venezuela" donates to support the people of Venezuela with Bitcoin

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