The crypto market exceeds $ 1 trillion for the first time in history!

The crypto market exceeds $ 1 trillion for the first time in history!

By Roberto D. | CryptoFarm | 8 Jan 2021


The market capitalization of cryptocurrencies surpassed $ 1 trillion for the first time in history. The sector is driven by Bitcoin, which continues to gain investor confidence.


The market capitalization of cryptocurrencies has exceeded 1 trillion dollars, the last stage of an astonishing race that sent the entire sector into orbit.

In the front row, of course, Bitcoin, the queen (or king?) Of virtual currencies that with the last tear reached $ 37,700, before retracing a little below (the real-time price can be found in the box immediately below ). But the health of the digital money segment is also attributable to the performance of altcoins, from Ethereum to Litecoin, which continue to update their historical records with surprising frequency.

An ascent largely attributable to the growing confidence of major international hedge funds in cryptocurrencies, which is altering the balance of power on the market between these digital assets and gold, the most popular safe haven asset on financial markets.

 

Record-breaking cryptocurrencies are now worth more than $ 1 trillion

When the pandemic last March began to shake the global economy, few could foresee such a flattering year-end result for the stock markets and, above all, for cryptocurrencies.

On the latter, in fact, investors continued to have the usual doubts: to curb the bets, among other things, the volatility that has accompanied the sector from the beginning, with jolts that are often too intense for the hearts of the markets.

Price fluctuations, in fact, still remain a distinctive feature of cryptocurrencies today, but beyond the recurring "up and down" the fund's performance overview shows a die-hard rally: good news for the "bulls" of the first hour, but also for the many who have jumped on the moving train in recent weeks.

The result is well known: today this market segment is worth over $ 1 trillion, with Bitcoin leading the way at $ 37,478, yet another record in a season that already has a year-on-year increase of over 380%. The market capitalization of the virtual currency conceived by Satoshi Nakamoto, at the time of writing, is close to 700 million dollars, with a weight of almost 70% of the total value of the sector.

However, the contribution to the cause of some altcoins should not be underestimated: among these Ethereum, the native currency of the homonymous decentralized platform, which in the last twelve months has recorded an increase of 754%, and Litecoin, now at 165 dollars ( percentage change of 266.7% on an annual basis).

A formidable rise, which is not destined to fade in the coming months. According to analysts, in fact, the repositioning of hedge funds in favor of cryptocurrencies, the gradual opening of payment giants towards digital wallets and the growing conception of virtual currencies as a hedge in defense of inflation will continue to fuel the enthusiasm of investors. And the market value is preparing to move towards still unknown peaks.

 

As always, thank you for making it this far, and see you next time!

 

 


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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 https://linktr.ee/robertod


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