CHART OF THE DAY: The New NXT Cryptocurrency Has A Long Way To Go Before Catching Up To Bitcoin

A new virtual currency called “NXT,” which began trading Monday on the Danish virtual currency exchange CCEDK, is already the fourth-largest cryptocurrency with a market cap of $US51 million. But according to the latest data from cryptocurrency-monitoring site, which was charted for us by Statista, NXT still has a long way to go before it catches up to Bitcoin.

Despite suffering a massive hit in February, when the world’s largest Bitcoin exchange went bankrupt after losing half a billion dollars worth of the digital currency, Bitcoin is still the leading cryptocurrency with a market capitalisation of roughly $US8.1 billion. Bitcoin continues to flounder, but NXT has a better chance at unseating the No. 2 cryptocurrency, Litecoin, which has a market cap of $US257 million.

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