Total Crypto Market Cap Surges Over 70B in a Day

Total Crypto Market Cap Surges Over 70B in a Day
  • The total cryptocurrency market capitalization increased over 50 billion in a day.
  • Many crypto assets went on the up-and-up besides Bitcoin.

The total cryptocurrency market capitalization increased by over 50 billion a day from $1,787 billion to $1,852 billion in a day. According to CoinMarketcap, the total market cap is at $1,784 billion, at the time of writing.

Total Market Capitalization (Source: CoinMarketCap)

Some traders believe that this is the point when cryptos will once again begin to go bullish further. On the other hand, some traders believe another huge price drop is yet to come. 

Bitcoin, in particular, looks like it is on the road to recovery. The price of BTC marked the annual record low so far at under $28,893. Following this, today the price of BTC is at $43,584.17, with a 24-hour trading volume of $35,297,839,521, at the time of writing.

On the matter of the price pump, many crypto assets went on the up-and-up besides Bitcoin. For instance, Ethereum (ETH), Cardano (ADA), Binance (BNB), and Dogecoin (DOGE) were some of the few. Additionally, other assets from the top 100 cryptocurrencies by market cap also experienced a fantastic price surge. 

Moreover, this price surge is due to the trending popularity of crypto around the world. Many started investing into crypto. Furthermore, NFT sales are also trending in the crypto market nowadays. Most activities in the crypto industry tend to affect each other. When Bitcoin goes up, altcoins will also go up. Similarly, when Non-Fungible Tokens perform well, so do Decentralized Finance (DeFi). In addition, blockchain gaming, GameFi, and Play to Earn are also trending, attracting many crypto investors. All-in-all, all these things will stand as a reason for the crypto market surge.

Recommended for You

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.