$1 Trillion Cryptocurrency Economy Is Here
The cryptocurrency market gained $130 billion in less than 24 hours to reach a market cap of $980 billion. Just $20 billion away from the monumental $1 trillion market cap. Bitcoin reached an all-time high of $36,000 today after adding nearly a $100 billion market cap within a single day.
According to the latest data, the $1 trillion cryptocurrency economy is not far as the overall market gained significant value in the last 24 hours. The world’s largest cryptocurrency Bitcoin is topping the list with a market cap of nearly $675 billion.
Ethereum is the best performing asset among major cryptocurrencies, the total market cap of Ethereum jumped nearly 60% in the last 7 days to reach $130 billion. As of writing, the price of Ethereum is hovering around $1,120 after recording a high of $1,160 today.
Apart from Bitcoin and Ethereum, other cryptocurrency assets like Litecoin, Polkadot, and Cardano also gained significant value in the last few days. Litecoin has recently taken over XRP as the fourth-most valuable cryptocurrency in the world after the SEC filed a lawsuit against Ripple for selling unregistered securities in the form of XRP.
Best Performing Cryptocurrency Assets
The world’s top cryptocurrencies have gained the limelight in recent days due to a significant increase in market value but other crypto-assets like Cardano and Stellar actually performed better than Bitcoin and Ethereum in the last few weeks in terms of percentage gain. Stellar (XLM) gained more than 60% in the last 24 hours as the total market cap of the cryptocurrency reached $5 billion. XLM is now up more than 70% in the last 7 days. XLM posted strong gains after an announcement by the Ukrainian Ministry of Digital Transformation to work with Stellar Development Foundation to introduce virtual assets in the country.
Polkadot, Chainlink, and Bitcoin Cash also posted strong gains in the last few days as all the mentioned cryptocurrency assets gained more than 20% in the last 7 days. Institutional adoption is pushing the cryptocurrency economy towards the $1 trillion market cap much quicker than earlier anticipated.
Source: Read Full Article