Global Crypto Market Value Hits Over $3trillion For The First Time

 

The world cryptocurrency market is worth more than $3 trillion for the first time, as mainstream investors increasingly jump on board..

In the past seven days leading cryptos including Bitcoin recorded 11.6 per cent growth in prices while Ethereum jumped 11.2 per cent. Others like Binance Coin, Solana, Cardano, XRP, Polkadot, and Dogecoin increased by 17.6 per cent, 21.4 per cent, 17.2 per cent, 15.7 per cent, 5.7 per cent, and 3.6 per cent respectively.

On Monday the value reached $3.007 trillion (2.6 trillion euros), said CoinGecko, which tracks prices of more than 10,000 cryptocurrencies.

The mcap had first hit the $2 trillion mark on April 6 this year before it declined by thousands of dollars to around $1.2 trillion. It had again jumped back to $2 trillion in mid-August. Going through multiple corrections, the crypto world in September also slipped twice below the $2 trillion level. However, from October 1 onwards, the mcap has been rallying with the growth in crypto prices including Bitcoin, Ethereum, Binance Coin, Solana, along with growing interest in meme coins such as Dogecoin, Shiba Inu, and others. 

“The crypto market is growing at a mind-blowing speed,” noted SwissQuote analyst Ipek Ozkardeskaya.

“A part of it is speculation of course, but a part of it is real,” she told AFP.