After a dramatic crash in prices over the last several weeks, the cryptocurrency market has crossed the $1 trillion mark in market capitalization, bringing relief to investors and raising optimism about the start of a bull run.
Strong Buying With Volumes
Strong buying interest in the world’s largest digital currency Bitcoin (CRYPTO: BTC) catapulted its prices well above the $22,700 mark, while prices of the second most valuable crypto Ethereum (CRYPTO: ETH) crossed the $1,600 mark, lifting the entire crypto market by about 5% in the last 24 hours.
The market capitalization of the crypto market stands at $1.01 trillion, a level seen last on June 13.
While Bitcoin’s market capitalization stands at $420 billion, Ethereum is sitting at a total market cap of $120 billion, with $20 billion having been added in the last 24 hours alone.
Ethereum Up 54% In One Month
According to data from CoinGecko, Ethereum is up by an impressive 54% over the last month, on the back of its much-anticipated merge from its current state as a proof-of-work (PoW) blockchain to an energy-efficient proof-of-stake (PoS) network in September this year, also dubbed …
Full story available on Benzinga.com