Crypto Market Cap Touches $2T 💸

Crypto Market Cap Touches $2T

According to market trackers, CoinGecko and Blockfolio, the cryptocurrency market capitalization reached an all-time high of $2 trillion on Monday, as gains from the past few months drew demand from both institutional and retail investors.

The crypto rally was led by Bitcoin, which set a record by remaining at a market value of $1 trillion for a week. According to analysts, Bitcoin can sustain its $1 trillion market value as long as it remains over $53,000. The fact that Bitcoin held its $1 trillion market cap for one week is impressive and shows the growing confidence in Bitcoin and cryptocurrencies.

Tesla bought $1.5 billion worth of Bitcoin and made it an accepted form of payment. PayPal made it possible for merchants to accept payment in Bitcoin. Visa made it possible to pay with Bitcoin on their platforms. More companies are starting to become involved with Bitcoin, fueling its rally.

Bitcoin isn’t the only digital currency that has been rallying. Ethereum, the second-largest cryptocurrency by market cap, had a market capitalization of $244 billion on Monday. Ethereum has skyrocketed over 180% this year, and Bitcoin has risen over 100% — outperforming traditional assets like stocks and commodities.

Paolo Ardoinio, chief technology officer at crypto exchange Bitfinex, said, “Momentum and interest have begun to expand beyond Bitcoin and Ethereum… As the industry continues to mature, we expect more blockchain-based applications to be introduced to the world, and coinciding with that, a surge of interest around other alternative assets… as they become more market-ready.”

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:

More Posts

What is a kids brokerage account?

23 March, 2023

A kid’s brokerage account is more accurately called a custodial account. This is a brokerage account that parents or legal guardians can open on behalf of their child.

Poll: Bailing Out the Banks 🏦

23 March, 2023

This week, we asked the Invstr Community, “Do you think the government should have stepped in and covered all deposits over the FDIC limit of $250K at Silicon Valley Bank?”

Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community.The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results.Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such.Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.