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Cryptocurrency has been on a tear recently, as government spending and liquidity from the Federal Reserve flood the financial system.
Cryptocurrencies are built using what’s called blockchain technology, which uses a distributed ledger to produce, track and manage a digital currency.
Thousands of cryptocurrencies exist, and literally any number could be created using similar blockchain technology.
Cryptocurrencies can be created for many different purposes, and each may occupy different parts of the crypto universe.
Meanwhile Bitcoin and Ethereum were created for more serious purposes, including actually facilitating transactions or acting as a store of value.
The market capitalization of each consists of the total extant coins multiplied by the current trading price, and there’s a wide divergence.
While these currencies may be among the most popular for traders, Bitcoin is the one that’s emerged among the mainstream.
If money continues to flow into Bitcoin and demand rises, this fixed limit virtually ensures that the price will rise over time.
In contrast, Ethereum’s issuance is unlimited, but it has a fixed issuance schedule, which may slow the production of new coins.
But in the short term cryptocurrency is driven by sentiment, so even something created as a joke and with unlimited issuance may rally hard if a swell of interest sweeps in.
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