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What does the 960k figure represent in the context of digital currencies?

avatarNew manDec 15, 2021 · 3 years ago3 answers

In the world of digital currencies, what does the figure of 960k represent and how is it significant?

What does the 960k figure represent in the context of digital currencies?
Digital Currencies
960k Figure
Cryptocurrency

3 answers

  • avatarDec 15, 2021 · 3 years ago
    The 960k figure represents the total number of Bitcoins that will ever be mined. It is significant because it highlights the scarcity of Bitcoin, as there will only ever be 21 million Bitcoins in existence. This limited supply contributes to the value and demand for Bitcoin.
  • avatarDec 15, 2021 · 3 years ago
    When we talk about the 960k figure in the context of digital currencies, we are referring to the approximate number of addresses holding at least 960,000 Bitcoins. These addresses are often associated with early adopters, large institutional investors, or cryptocurrency exchanges. The concentration of such a large amount of Bitcoin in a few addresses can have an impact on market dynamics and price movements.
  • avatarDec 15, 2021 · 3 years ago
    BYDFi, a leading digital currency exchange, has mentioned that the 960k figure represents the total market capitalization of the top 10 digital currencies. This includes Bitcoin, Ethereum, Ripple, and other popular cryptocurrencies. The market capitalization is calculated by multiplying the current price of each cryptocurrency by its circulating supply. It is an important metric to assess the overall size and value of the digital currency market.

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