Cryptocurrencies are breaking through their ceiling and already exceed $1,9 trillion in market capitalization. Bitcoin's rapid growth in recent months is driving the crypto market to reach this all-time high for the first time in its history.
The cryptocurrency and digital asset market is breaking its highs with Bitcoin (BTC) y Ethereum (ETH) The incredible revaluation that has accompanied the growth of these two cryptocurrencies in recent months in the digital industry has made the market trade close to 2 billion dollars.
At the time of this writing, data provider CoinGecko shows that the market capitalization of all cryptocurrencies on the market totals $1.913.867.932.711 ($1,91 trillion.
Source: CoinGecko
At the beginning of the year, the market capitalization of cryptocurrencies was around $783 billion, so the growth of this market so far this year has been approximately 240%. Bitcoin accounts for 58% of the crypto market, which has a market capitalization of $1,1 trillion. Another important contributor to the capitalization of cryptocurrencies is Ethereum, which has grown by nearly 300% this 2021, occupying a capitalization of more than $227 billion, at the time of this edition.
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Tether and Cardano are important in the crypto market
In addition to Bitcoin and Ethereum, cryptocurrency Cardano (ADA) and stablecoin Tether (USDT) ADA is also appreciating significantly. Recently, ADA was ranked third among the largest cryptocurrencies in the industry, reaching a value of $1,38 per unit and a market capitalization of over $38,9 billion. At the time of writing, ADA is valued at $1,19 and remains in fifth place in the crypto market. This cryptocurrency shows an increase of 700% so far this year.
On the other hand, USDT surpassed a market cap of over $40 billion by March 25. The most traded stablecoin on the market dominates over 70% of the stablecoin market, with a daily trading volume of over $108 billion.
Crypto industry expectations
Positive news surrounding the crypto industry is driving the growth and appreciation of cryptocurrencies. For example, in Bitcoin, Tesla’s announcements of accepting bitcoins as payment for its electric cars, and of “HODLing” the cryptocurrencies it receives; Paypal confirming cryptocurrency payments at its millions of merchants; Visa preparing to settle payments with BTC; Morgan Stanley offering Bitcoin exposure for accredited clients and CME Group’s new BTC micro futures, all play an important part in the growth of the crypto market.
The total capitalization of cryptocurrencies demonstrates the undeniable importance that cryptoassets are taking on globally. The innovation that accompanies Bitcoin and the crypto industry is revolutionizing finance, and attracting millions of users around the world, who are looking for new financial alternatives that allow them to manage their funds in a much simpler, more reliable and efficient way.
The value that Bitcoin brings to the construction of a new alternative and decentralized financial model is leading experts to recognize the cryptocurrency as the new digital gold, even though many others criticize its volatility as a disadvantage. However, in its 12 years of history, Bitcoin has demonstrated that its volatility ends up favoring its price in the long term. BTC, which in March 2011 had a value of 1 dollar per unit, today, 10 years later, is trading above 58.700 dollars; showing a growth of more than 587.000% annually.
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