The cryptocurrency market capitalisation has hit an all-time peak of USD 2 trillion
The term market capitalization is used in the blockchain industry to describe a metric that determines the relative size of a cryptocurrency. It’s calculated by multiplying a coin’s or token’s current market price by the total number of coins in circulation.
The surge was led by Bitcoin, which hit its own milestone on 5 April 2021, by holding at a USD 1 trillion market cap for one week. Bitcoin was last up 1.4% at USD 59,045. Analysts said if Bitcoin stays above USD 53,000, it will be able to maintain its USD 1 trillion market cap.
XRP on the other hand has crossed $1, its all time high in 3 years.
The total crypto market volume over the last 24 hours is $209.76B, which makes a 29.23% increase. The total volume in DeFi is currently $15.00B, 7.15% of the total crypto market 24-hour volume. The volume of all stable coins is now $154.19B, which is 73.51% of the total crypto market 24-hour volume.
Bitcoin’s price is currently $58,739.25.
Bitcoin’s dominance is currently 55.14%
Ethereum, the second largest cryptocurrency in terms of market cap, was up 1.3% at USD 2,103. Its market cap was USD 244 billion on 5 April 2021. It hit a record high of USD 2,144.99 on 2 April 2021.
Bitcoin has risen more than 100% in 2021, while Ethereum has gained nearly 190%. Both have outperformed traditional asset classes, bolstered by the entry of mainstream companies and large investors into the cryptocurrency world, including Tesla and BNY Mellon.