By mid-afternoon, the crypto market cap was at $2.02 trillion.
The surge was led by bitcoin, which hit its own milestone by holding at a $1 trillion market cap for one week. Bitcoin was last up 1.4 per cent at $59,045. Since hitting a lifetime peak of more than $61,000 in mid-March, bitcoin has traded in a relatively narrow range.
Analysts said as long as bitcoin stays above $53,000, it will be able to maintain its $1 trillion market cap.
Ethereum, the second largest cryptocurrency in terms of market cap, was up 1.3 per cent at $2,103. Its market cap was $244 billion on Monday. It hit a record high of $2,144.99 last Friday. “Momentum and interest have begun to expand beyond bitcoin and ethereum,” said Paolo Ardoino, chief technology officer at crypto exchange Bitfinex.
Bitcoin whales on defense, how BTC could reach a new ATH
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