Bitcoin
Bitcoin$34 097.00

4.34%

Ethereum
Ethereum$2 169.17

5.41%

Tether
Tether$1.00

-0.01%

Binance Coin
Binance Coin$299.50

3.10%

Cardano
Cardano$1.23

4.65%

XRP
XRP$0.607317

2.38%

Cryptocurrency market cap hits $2 trillion


06 Apr 2021   #Bitcoin

The market capitalization of all cryptocurrencies in existence surpassed $2 trillion on April 5, according to data from Goingecko, led by the impressive growth of Bitcoin (BTC), Ether (ETH) and other altcoins in 2021. The cryptocurrency market as a whole has become approximately as valuable as Apple, the second-biggest company in the world after Saudi Arabia’s oil giant, Aramco.

The milestone also comes less than three months after the cryptocurrency market surpassed $1 trillion for the first time back on Jan. 7 when the price of Bitcoin was around $33,000.

In recent months, several major catalysts have fueled both Bitcoin and Ether to rally strongly to new all-time highs. Financial institutions, like PayPal and Visa, are beginning to actively support cryptocurrencies, with Bitcoin leading the cryptocurrency market’s uptrend. In 2021, Bitcoin has faced several short-term corrections but has now consistently remained above $50,000 for almost a month, with low volatility compared with altcoins, preventing both ETH and the altcoin market from seeing a severe pullback.

On April 2, Coinbase, the top United States cryptocurrency exchange, announced that the U.S. Securities and Exchange Commission (SEC) approved its S-1 filing. Coinbase is expected to be listed on the Nasdaq exchange on April 14, making it a publicly traded company on the U.S. stock market.

Depending on the performance of the stock, it could also lead exchange tokens such as Binance Coin (BNB), FTX Token (FTT), Huobi Token (HT), SushiSwap’s SUSHI, Uniswap’s UNI and others to rally, mirroring the momentum of COIN. At the same time, some analysts believe that Coinbase’s IPO may bring major volatility in, if not downward price pressure on, the cryptocurrency market, as the date aligns with a big BTC options expiry date.

#source

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.