The combined market cap of all cryptocurrencies reaches $2 trillion for the first time.
The market capitalization of all cryptocurrencies in existence surpassed $2 trillion on April 5, according to data from Goingecko, led by the impressive growth of Bitcoin (BTC), Ether (ETH) and other altcoins in 2021.
The cryptocurrency market as a whole has become approximately as valuable as Apple, the second-biggest company in the world after Saudi Arabia’s oil giant, Aramco.
The milestone also comes less than three months after the cryptocurrency market surpassed $1 trillion for the first time back on Jan. 7 when the price of Bitcoin was around $33,000.
Will the Ethereum and altcoin bull market continue?
In recent months, several major catalysts have fueled both Bitcoin and Ether to rally strongly to new all-time highs.
Financial institutions, like PayPal and Visa, are beginning to actively support cryptocurrencies, with Bitcoin leading the cryptocurrency market’s uptrend.
In 2021, Bitcoin has faced several short-term corrections but has now consistently remained above $50,000 for almost a month, with low volatility compared with altcoins, preventing both ETH and the altcoin market from seeing a severe pullback.
In fact, Bitcoin’s volatility has dropped to the lowest level since November 2020 as BTC price has been consolidating between $55,000 and $60,000 over the past few days