Friday, September 17, 2021

Global crypto market cap touches $2.2 trillion as bitcoin breaks above $50,000.

The Takeaway:

The total market capitalization of cryptocurrency assets touched the level of $2.2 trillion on Monday after a bullish rally in BTC, ADA, BNB, and ETH.

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The total market capitalization of the entire cryptocurrency market touched the level of $2.2 trillion on Monday after a bullish rally in BTC, ADA, BNB, and ETH. Bitcoin crossed the price level of $50,000 today while Cardano registered an all-time high of $2.88. According to Coinmarketcap, the overall market cap of the entire cryptocurrency market has reached its highest level since 16 May 2021. 

 

The cryptocurrency market cap saw addition of approximately $1 trillion within the last four weeks.

After touching a low of $1.19 trillion on 21 July, the entire crypto market cap of cryptocurrency assets saw addition of approximately $1 trillion within the last four weeks. Bitcoin is the world’s most dominant cryptocurrency, as BTC accounts for 43.7% of the total market cap. ETH comes at the second spot with a crypto market dominance of 18%. Cardano is the third most dominant crypto asset with a market cap of more than $90 billion, nearly 4% of the overall crypto market cap. 

 

Bitcoin breaks above $50,000, hitting a three-month high. 

The price of the leading cryptocurrency bitcoin crossed the $50,000 mark over the weekend to hit a 3-month high as the cryptocurrency continues to rebound. Bitcoin rose above that level around 10:40 p.m. ET on Sunday, according to data from CoinMarketCap. At the time of writing, the cryptocurrency is changing hands at just above $50,100. Earlier, Bitcoin hit an all-time high of over $64,000 in April but sold off heavily in June and July, even dipping below $30,000. Earlier today, PayPal announced that the company had launched its cryptocurrency services for UK-based clients. The cryptocurrency market cap saw a sharp increase following the news. Earlier, PayPal CEO had said that cash and credit card payments will decline in the coming time. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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