• Mon. Dec 11th, 2023

Cryptocurrency market has managed to hit a market cap of $3 trillion



Nov 15, 2021

Without a doubt, the crypto market has easily been the fastest growing market in the entire world. Not only has it managed to create a completely unique type of investing environment, but it also works to offer investors some of the best returns on their investment. Furthermore, various investors are also making their way to the market, giving it a new air of relevance throughout the financial world.

The newer investors are bringing in more investors, which are also bringing in more companies and financial institutions. With all of these new companies and investors coming into the market, growth has suddenly skyrocketed. And recently, it managed to reach an astonishing $3 trillion in its latest market cap.

The interesting thing is that the crypto market has continued to grow despite external forces looking to stunt its overall growth. China very famously banned cryptocurrencies entirely throughout the country, which was a major epicenter for cryptocurrencies. Even during its heyday, China contributed 45% to the global hash value of Bitcoin. But despite the massive hit, the market is still going stronger than ever.

The major reason why the market has managed to score by such an incredible margin is because of Bitcoin and Ether. Bitcoin has managed to increase price yet again in its most recent rally, with JP Morgan estimating that it will very easily reach close to $150,000 in the long run.

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Ether and Solana on the other hand continue to battle it out as they offer even more services which continue to attract new investors. Furthermore, both Ether and Sol continue to offer competitive prices and even faster transaction times. This constant back and forth has allowed investors to come in and choose their sides more carefully.

According to experts in the market, Bitcoin is the leading cause for this incredible rise. It continues to rise out of a bullish pattern, where it has managed to rise to new highs every time. Furthermore, investors now have much more faith in the system, and now completely trust cryptocurrencies like Bitcoin and Ether. This newfound trust has managed to help the entire crypto market rise by an extensive margin.

Of course, when Bitcoin and Ether manage to rise through bullish moves, they are able to make a massive impact on the rest of the market. The third and fourth largest cryptocurrencies Binance and Solana have also become incredibly popular and managed to rise by 20% in just the past week. In fact, all of the major top seven coins have managed to become rise by an incredible margin since the new rise of Bitcoin and Ether.


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