Crypto Market Cap Skyrockets 5.3% to Hit $2.05 Trillion

Crypto Market Cap Skyrockets 5.3% to Hit $2.05 Trillion
  • Crypto Market Cap Skyrockets 5.3% to Hit $2.05 Trillion
  • Earlier this month, the crypto market has undergone a major drop.
  • The market cap of Bitcoin has reached over $828 billion.

In the past 3 days, the crypto market depicts a bearish trend, but on Thursday, the crypto market turned bullish trend. The Crypto market was hitting above $2 trillion after the dropdown. The whole crypto market has skyrocketed nearly 5.3% to hit $2.05 trillion. Previously, on August 15 the total market value of cryptocurrencies surged above $2 trillion.

Total Market Capitalisation (Source: CoinMarketCap)

Accordingly, earlier this month, the crypto market has undergone a major drop. The leading cryptocurrencies such as Bitcoin, Ethereum, and other cryptocurrencies experienced a major price downfall in the latest market crash to hit traders and investors.

At that time, the biggest question raised is will the crypto market recover and when it will happen. But the crypto market was recovered from the major fall down.

Furthermore, crypto giant Bitcoin (BTC) has surged 4.21%  to hit $44 K. With this surge in price, the market cap of Bitcoin has reached over $828 billion. Similarly, Ether (ETH) price spikes over 5% to reach $3,109. With this price surge, the market cap of ETH has touched $364.7 billion.

More so, many cryptocurrencies also surged in their price which has increased their market capitalization. A major reason behind the price surge seems to be the trending popularity of crypto all over the world. In this trending world, the majority started to invest in crypto, and many countries are accepting cryptocurrency as one of the payment methods. Many activities in the crypto market tend to affect each other. Eventually, when Bitcoin price pumps up, altcoins will also blow up. Likewise, when Non-fungible Tokens (NFT) perform well, Decentralized Finance (DeFi) also shows a good performance. Finally, these things will seem to be a reason for the crypto market surge.

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A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.