As per the latest Coingecko data report, the tallied market capitalization of all existing cryptocurrencies has now officially surged past the staggering $2 trillion mark yesterday. While almost all cryptos today experienced substantial gains from the last year and so, many point out the highly remarkable value growth of Bitcoin (BTC) as the main driving force for this huge win.
With that in mind, the crypto industry’s collective worth could now be seen as practically equal to that of the tech titan Apple, which is presently considered the second-biggest company worldwide. Even more impressive is the fact that this new milestone development came only mere months from when the industry first hit $1 trillion. Back then, BTC was ‘only’ at about $33,000 – but now, it is edging $59,000 with an individual market cap of $1 trillion. According to market experts, BTC’s market cap could maintain at $1 trillion as long as BTC manages to stay above $53,000.
Ethereum (ETH), predictably tallied the second-largest gain from any crypto via market cap. ETH’s current market cap is now over $244 billion, with the crypto recording a new all-time high of over $2,145 per ETH.
Paolo Ardoino, CFO of Bitfinex, commented on this very positive development for the whole crypto space. According to him, people’s interest in cryptos has now transcended beyond just BTC and ETH. They, too, are now starting to notice lesser-known alternatives, thus, explaining the staggering growth in the industry’s overall market cap. Ardoino then adds that as the crypto space continues to expand, more and more eyes would look towards it, and the sector hitting $2 trillion could just be the start of even brighter days ahead.