- Crypto Market Cap goes beyond $3 trillion mark.
- Altcoins continue to gain interest from the general public.
The global crypto market cap has hit above $3 trillion. It clocked in a new record, breaking the previous one of $2.62 trillion on October 20. The whole crypto market capitalization has increased by as much as 14.5% in less than three weeks, according to CoinGecko.
With Ethereum, Solana, Polkadot, and Binance Coin pushing into uncharted price ranges, and with Bitcoin trading within 2% of its all-time high, achieving such a record came as no surprise. As a result, seven of the biggest crypto are up over the past week.
BTC soared to as much as 5.5% on Monday, closing to its previous record of around $67,000. This current rally is driven by the recent U.S trading of a Bitcoin-linked ETF. Meanwhile, Ether rose to almost 3%, reaching a new high of $4,768.
Indeed, cryptocurrency is immensely volatile–especially meme coins. They tend to go berserk, bouncing back and forth at times. Conversely, Bitcoin is no exception. The last time it attained its peak, BTC experienced a fall down of several thousands of dollars.
Based on its 2020 year-end value, the cryptocurrency market has increased fourfold. Established networks like Ethereum, continue to wow investors with their constant upgrades and innovations.
At the same time, the enthusiasm for decentralized finance (DeFi) and non-fungible tokens (NFTs) keeps rising. Not to mention, meme coins like Shiba Inu and Dogecoin are still in the spotlight. And with Facebook’s big news of rebranding to Meta, the public’s interest in altcoins continues to grow.