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New Fed Report Ranks Cryptos/Stablecoins as 5th Highest Risk to U.S. Financial Stability -Breaking

by Mike Robinson

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A new Fed Report ranks cryptos/Stablecoins 5th highest risk to U.S. financial stability

CoinGecko.com, a price-valuation website for crypto currencies, reports that, at this time, Monday 8 Oct. 2018, 6:30 PM ET, the global market capitalization in the cryptocurrency industry was higher than $3 trillion. Bloomberg’s breakthrough report earlier today showed that the crypto market capitalization total has not fallen below $3 trillion.

Important psychological milestone reached

It is the first time that total crypto sector values have broke this barrier since the invention of blockchain technology.

Are these data reliable?

Regarding the validity of these data on its website, CoinGecko has a statement under its methodology page that reads, “CoinGecko provides a wide variety of data on many different crypto assets. All data that we receive/query from various sources are put through CoinGecko’s various algorithms that verifies the integrity of the data.”

According to the site, top-ranked cryptocurrency – Bitcoin – was up nearly 8 percent over the preceding 24-hour window to more than $66,000 creating a market capitalization of $1.24 trillion all on its own. The second-ranked coin by market cap – – set a new all-time high today at more than $4,793 per coin, pushing its total market cap to more than $565 billion.

CoinMarketCap, a cross-reference site, currently values the crypto market at $2.89 trillion.

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