Cryptocurrency Market Value reaches an all time high! Cryptocurrrency market value reached an all time high, passing $1 trillion dollars yesterday, for the first time ever. At its prior peak, the market capitalization was just above $760 billion.
Bitcoin represents roughly 69% of the market’s value. The last 12 months have been very good for Bitcoin and other cryptocurrencies, as deep-pocketed institutional investors have flocked to Bitcoin – new retail investors have followed their lead and has shown interest in altcoins as well.
Bitcoin has already gained 25% in January – but 2020 was a banner year for the cryptocurrency – it saw an astonishing 300% gain in the last year. Ethereum is currently trading over $1200 – $1265 at writing time – reaching a gain of roughly 860% Wednesday.
Firms that have been investing in cryptocurrency include MicroStrategy, PayPal, and Ruffer Investment.
As Bitcoin continues to climb, altcoin indexes have been creeping upward, riding the coattails of Bitcoin.
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