Milestone: Cryptocurrency market value has exceeded $ 3 trillion Crypto News

KoinGec’s prices were $ 3.3 trillion in overall cryptocurrency capture on Monday.

The cryptocurrency market is now worth more than $ 3 trillion.

The market for digital assets has more than quadrupled since its end-of-2020 value, as investors have become more comfortable with established tokens like Bitcoin and networks like Ethereum and Solana continue to innovate and attract new functionality. There is growing excitement about the opportunities for decentralized finance and non-fungible tokens, and memecoins like Dogecoin and Shiba Inu continue to attract attention.

“Bitcoin seems to be emerging from the flagship model, and Ether is likely to confirm a long-term break near resistance this Friday,” Katie Stockton, founder and managing partner of Fairlead Strategies, said in a statement.

As of 9:54 a.m. in New York, the overall market capitalization of cryptocurrencies reached $ 3.3 trillion, according to CoinGec prices. The third and fourth largest tokens, Binance Coin and Solana, have increased by more than 20% in the last seven days; the seven largest coins have risen in the last week.

Bitcoin rose 5.6% on Monday to $ 66,414, approaching a previous record of about $ 67,000. Ether advanced 3% to a new high of $ 4,768.

Marathon Digital Holdings Inc. and Riot Blockchain Inc. crypto companies like miners gathered more than 10% on Monday. Coinbase Global Inc., the largest U.S. exchange, gained 3.6%, a day ahead of third-quarter earnings.

Of course, the crypt is very volatile. The last time Bitcoin reached those levels, it went back thousands of dollars, and has undergone several corrections that halve it or more. Other currencies are even more volatile – memecoins sometimes go back and forth – and scams and hacks occur with a high frequency.

The current Bitcoin rally has been fueled by the US premiere of an ETF-linked ETF and a weekend Twitter poll by Elon Musk, said Ben Caseline, head of AAX crypto exchange research and strategy. “As Shiba and other memecoins have done more recently and with the renewal of the Meta brand on Facebook, interest in altcoins continues to rise.”

–With the help of Emily Graffeo.