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Crypto market cap surges past $1 trillion for the first time as BTC soars past %37K

The total capitalization of the cryptocurrency market reached $1 trillion, breaking its previous record of $830 billion set in 2018.

Image by WorldSpectrum from Pixabay

Thu, 07 Jan 2021, 07:56 am UTC

Bitcoin’s rally continues as BTC set a new record when it soared past $37,000 for the first time on Tuesday. Led by the world’s largest cryptocurrency by market cap, the total crypto market capitalization also set a new milestone when it broke $1 trillion for the first time ever.

The crypto market just set a new record when the total market capitalization reached $1 trillion for the first time at 19:00 ET on January 6, 2021, according to Cointelegraph.com. Leading the charge is Bitcoin, the world’s largest cryptocurrency, which also broke $37,000 at around the same time, setting a new high in the process.

After breaching $1 trillion yesterday, the cryptocurrency market managed to maintain its momentum as the total value of the digital assets remained above the trillion-dollar mark. As of writing, the total crypto market capitalization inched a bit higher and is now valued at $1.01 trillion based on data from Coinmarketcap.com.

The crypto market capitalization managed to soar past a trillion dollars just days after it exceeded the previous high during the 2017-18 bull market. During the last cycle, the crypto market’s total cap reached around $830 billion in early 2018.

Bitcoin soared to $37,714 at 1:39 PM on January 7 while its market cap soared to $701 billion. However, the crypto is trading at around $37,373 at the time of writing while its market cap slid back down to $691 billion.

Meanwhile, Ether (ETH) has likewise posted massive games recently. The world’s second-largest crypto briefly traded at $1,205 on January 7 but slid back down to $1,197 at the time of writing.

There are even speculations that Ether might be on its way to challenge its current all-time high in the next few days. ETH’s all-time high was set back in 2018 when it traded at $1,432.88.

Many believe that a subsequent altcoin rally will soon follow. During the previous bull cycle, the altcoins market cap reached $547 billion after Bitcoin declined from its December 2017 high.

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  • Bitcoin (btc) $43,836.00 (-7.60%)
  • Ethereum (eth) $1,359.35 (-9.86%)
  • Cardano (ada) $1.25 (-11.02%)
  • Tether (usdt) $1.01 (+0.40%)
  • Polkadot (dot) $32.47 (-6.66%)
  • Bitcoin (btc) $43,836.00 (-7.60%)
Feb 28, 2021 (Sunday)
17:17
BTC Surges by 1.03% Within 5 Mins, Marking 43,893.8 USDT
16:04
BTC Surges by 1.7% Within 5 Mins, Marking 43,732.89 USDT
14:09
BTC Drops by 1.16% Within 5 Mins, Marking 43,827.34 USDT
13:05
BTC Drops by 1.03% Within 5 Mins, Marking 44,421.9 USDT
12:19
BTC Drops by 1.02% Within 5 Mins, Marking 44,940.36 USDT
09:03
BTC Surges by 1.03% Within 5 Mins, Marking 45,152.1 USDT
07:49
BTC Surges by 1.05% Within 5 Mins, Marking 44,724.7 USDT
06:03
BTC Drops by 1.3% Within 5 Mins, Marking 44,221.2 USDT
05:17
BTC Surges by 1.38% Within 5 Mins, Marking 45,442.07 USDT
05:06
BTC Surges by 1.55% Within 5 Mins, Marking 44,851.9 USDT
04:59
BTC Drops by 1.1% Within 5 Mins, Marking 44,313.1 USDT
03:40
BTC Drops by 1.21% Within 5 Mins, Marking 44,801.4 USDT
Feb 27, 2021 (Saturday)
23:51
BTC Surges by 1.43% Within 5 Mins, Marking 46,427.1 USDT
22:58
BTC Drops by 1.04% Within 5 Mins, Marking 46,020.14 USDT
16:04
BTC Surges by 1.04% Within 5 Mins, Marking 46,758.04 USDT
15:30
BTC Drops by 1.07% Within 5 Mins, Marking 46,792.2 USDT
13:30
BTC Surges by 1.18% Within 5 Mins, Marking 47,616.2 USDT
13:25
BTC Drops by 1.0% Within 5 Mins, Marking 47,121.63 USDT
12:34
BTC Surges by 1.52% Within 5 Mins, Marking 47,566.5 USDT
12:21
BTC Drops by 1.05% Within 5 Mins, Marking 46,957.1 USDT
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