The recent rise in cryptocurrencies, underpinned by the confidence generated by the new records on Wall Street, once again attracted the interest of small investors, who not only mobilize prices, but also volumes.
Thus, the cryptocurrency market already exceeds USD 3 trillion for the first time. Key to this record is the contribution made by Bitcoin, the main virtual currency, which on Monday afternoon Up 7.2%, to $ 67,600, very close to an all-time high.
At 8 a.m. London, the overall market capitalization of cryptocurrencies reached a record $ 3.01 trillion, based on CoinGecko pricing.
The market value of the Bitcoin climbs to $ 1.253 trillion and it means 41.6% of the total number of virtual currencies in circulation.
The third and fourth largest tokens, Binance Coin y Solana, reached a rise of more than 20% in the last seven days. But this rise did not have a specific focus, as the seven largest currencies advanced during the last week.
Bitcoin is traded this Monday very close to its previous record of around USD 67,000 and the Ether, meanwhile, it advances up to 3% to a new high of $ 4,770. The Bitcoin gains 130% since the beginning of the year.
The market value of Bitcoin climbs to USD 1.3 trillion and means 42% of the total virtual currencies in circulation
“Of course, cryptocurrencies are notoriously volatile. The last time Bitcoin reached these levels, it fell back several thousand dollars, and has already suffered multiple corrections that have seen it fall by half or more. Other currencies are even more volatile – meme currencies bounce wildly from side to side at times – and scams and hacks happen with some frequency, “he said. Bloomberg.
The market for cryptocurrencies have already roughly quadrupled from their value at the end of 2020As investors have become more comfortable with established tokens and networks like Ethereum and Solana keep updating and attracting new functionality.
Enthusiasm for the possibilities of decentralized finance and non-fungible tokens is growing, and meme currencies like dogecóin and shiba inu continue to attract attention.
The cryptocurrency market has already roughly quadrupled from its value at the end of 2020
“The current rally in Bitcoin has been driven by the debut of an exchange-traded fund linked to this cryptocurrency in the United States, as well as by the survey of Elon Musk on Twitter over the weekend, “he told Bloomberg Ben Caselin, head of research and strategy at the AAX cryptocurrency exchange.
“With the rise of Shiba and other coins memes that have rebounded recently, and the rebrand from Facebook to Meta, the interest in alternative cryptocurrencies continues to increase, ”added the expert.
It helps the trend that Wall Street relapses in the zone of maximums, particularly the technological average Nasdaq climbing 27% so far in 2021 and now operates in a record zone above 19,000 points