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Blockchain Technology
Overstock.com, Crate and Barrel, Nordstrom and Whole Foods in the retail sec
tor accept payments with cryptocurrencies. In the automotive industry, Tesla and
Lamborghini sell some of their vehicles with cryptocurrencies. Solid Opinion, on
the other hand, uses cryptocurrencies in digital publishing. Artworks are sold on the
Bitpremier.com website by accepting cryptocurrencies. Uber makes cryptocurrency
work with Facebook to be used in payments. On platforms such as ShareRing and
Open Bazaar, buyers and sellers are securely brought together and paid with cryp
tocurrencies, enabling them to sell and buy the products they want (Bruno & Gift,
2019; Coron, 2006; Dierksmeier & Steel; 2018; Howells & Bain, 2008).
2.9 CURRENT INFORMATION ABOUT THE
CRYPTOCURRENCY MARKET
According to the Coinmarketcap.com website, which is a reliable source where the
cryptocurrency market can be followed, there are more than 4,000 cryptocurrencies
as of February 2021. The total market cap of cryptocurrencies is over $1.6 trillion.
When ranked according to total market cap, the top ten cryptocurrencies are Bitcoin
(BTC), Ethereum (ETH), Binance Coin (BNB), Tether (USDT), Polkadot (DOT),
Cardano (ADA), XRP (XRP), Litecoin (LTC), Chainlink (LINK) and Bitcoin Cash
(BCH). When sorted by price, the top ten cryptocurrencies are renBTC (RENBTC),
Bitcoin (BTC), Wrapped Bitcoin (WBTC), Bitcoin BEP2 (BTCB), yearn.finance
(YFI), Maker (MKR), Ethereum (ETH), Bitcoin Cash (BCH), Compound (COMP)
and Aave (AAVE) (Coinmarketcap.com, 2021, February).
Among these cryptocurrencies, the price of Bitcoin is around $50,500, the total
market cap is over $1 trillion and the total supply in circulation is 18,637,106 BTC.
The price of Ethereum is around $1,800, the total market cap is over $200 billion
and the total supply in circulation is 114,775,384 ETH. The price of Binance Coin
is around $250, the total market cap is over $39 billion and the total supply in cir
culation is 154,532,785 BNB. The price of Bitcoin Cash is around $660, the total
market cap is over $$12 billion and the total supply in circulation is 18,663,200
BCH. The price of Tether is $1, the total market cap is over $34 billion and the
total supply in circulation is 34,761,096,222 USDT. The price of Polkadot is around
$36, the total market cap is over $33 billion and the total supply in circulation is
912,317,612 DOT. The price of Cardano is around $1, the total market cap is over
$32 billion and the total supply in circulation is 31,112,484,646 ADA. The price of
XRP is around $0.5, the total market cap is over $32 billion and the total supply in
circulation is 45,404,028,640 XRP. The price of Litecoin is around $180, the total
market cap is over $12 billion and the total supply in circulation is 66,544,865 LTC.
The price of Chainlink is around $28, the total market cap is over $11 billion and
the total supply in circulation is 36,635 YFI. The price of yearn.finance is around
$36,000, the total market cap is over $1.3 billion and the total supply in circulation
is 408,509,556 LINK. The price of Maker is around $2,370, the total market cap is
over $2 billion and the total supply in circulation is 995,383 MKR (Coinmarketcap.
com, 2021, February).