The cryptocurrency industry has reached a boiling point when it is able to resist the US banking system.
Jim Bianco, head of the analytical company Bianco Research, said that the cryptocurrency market is now superior to the index of the S&P Composite 1500 Banks, which tracks the efficiency of public banks in America.
Bitcoin, meanwhile, has reached another record. One of them was a record high trading of futures and options. Another record is related to the hashrate - this figure also reached its maximum of 179.4 EH/s. And although most experts are convinced that the hashrate has nothing to do with the increase in the price of the asset, wall street is enough for those who believe otherwise.
In the meantime, Bianco argues that the achievement associated with the index of the S&P Composite 1500 Banks would not have been possible without the participation of altcoins, whose market share has approached a two-year high, provoked by continued growth. The analyst noted that in fact the prospects for altcoins are still ahead. And this is despite the peaks they have already achieved!
By comparison, only a year ago the total capitalisation of the crypto market was a smaller amount than the capitalisation of JPMorgan - one of the largest banks in America today.