Cryptocurrency Market Cap Jumps Past $2 Trillion

Cryptocurrency Market Cap Jumps Past $2 Trillion

Cryptocurrencies continue to make headline news around the world as the total market cap surpassed $2 trillion on Monday. Supported by increased interest from institutional investors, celebrities, and retail investors, digital coins are now worth more than Apple Inc.

Bitcoin has, once again, played a major role in the sector’s market cap. The world’s first and largest cryptocurrency has maintained an unusually stable market cap worth $1 trillion for over a week. Ethereum, the world’s second-largest coin, reached a total market cap of $244 billion.

This latest news comes as big tech and financial firms, including Tesla, PayPal, and MasterCard, embrace Bitcoin and cryptocurrencies, giving the sector much-needed validation. In addition, also on Monday, Grayscale Bitcoin Trust confirmed its intention to change itself into an exchange-traded fund.

With markets rallying behind cryptocurrencies, the number of investors flocking to the market continues to increase. Bitcoin’s price has risen 100% this year, whilst Ethereum made an even more impressive, 190% jump. It is no surprise, therefore, that some of the best cryptocurrency exchanges have noticed a significant increase in new sign-ups.

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