Total Crypto Market Capitalization Records New Highs As BTC and ETH Retain Their Positive Momentum

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Recent analytical reports show that the total market capitalization of the crypto industry has once again recorded a new all-time high as the top two tokens in terms of global value and market cap, Bitcoin (BTC) and Ether (ETH) successfully retained their upward trajectory.

As per the reports, the total crypto market cap reached well above $2.6 trillion this Wednesday, surging by more than 6% compared to the day before. This marks a significant milestone for all cryptocurrencies after experiencing a staggering correction period that lasted for several months, seeing its market cap drop to as low as $1.2 trillion back in the summer of this year.

Experts believe that this massive surge in cryptocurrencies, especially BTC, is driven primarily by the recent approval of the US Securities and Exchange Commission (SEC) on two separate BTC exchange-traded funds (ETFs). While that may be the principal reason, it is worth noting that the bullish momentum for the overarching crypto space has been building for several months now.

As of press time, BTC’s market value currently stands above $65,000, after plummeting to as low as $29,800 just three months prior. This development marks a new all-time high for the dominant crypto. Interestingly enough, experts foresee its value rising even more. At the same time, ETH, Bitcoin’s closest adversary, surged past the $4,000 mark for the second time ever in its history.

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