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The market capitalization of cryptocurrencies has exceeded $ 2 trillion

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The market capitalization of cryptocurrencies is again above two trillion dollars. This has not happened since May, the moment the market suddenly turned.

BTC in particular helped to exceed the total capitalization. The biggest cryptocurrency, after reaching a maximum of $ 65,000 on April 14, slowly lost value until the crash on May 19, when China announced a ban of BTC mining. This gradually brought the market to a bearish phase, with BTC even falling below $ 30,000 several times. Now that the BTC is recovering, it is pulling the sector up again.

Altcoins, thanks to which the market capitalization exceeded $ 2 trillion

In fact, unlike the previous hype, BTC has not yet crossed the 1 trillion mark at this time, while remaining just below 900 billion. ETH gradually increased its market share to 19%, while BTC’s dominance is declining, gradually falling from 70% to the current 44%.

Thanks to protocol updates, ETH is gaining in value and interest. Although is still far from ATH’s $ 4,300 in May, ongoing updates that will lead to the final transition from Proof of Work to Proof of Stake promise to be crucial to the future of ETH. So much so that some speculate that overcoming BTC is no longer a sci -fi.

In any case, ETH currently has a capitalization of just under $ 400 billion.

All other cryptocurrencies go far, but of course they add. It is not just Tether, which increased its capitalization from 30 billion to 60 billion during 2021. But there is also Cardano (ADA), the protagonist of massive growth, who returns the cryptocurrency back to ATH in May, when it reached $ 2.46. Currently, the ADA is worth $ 2.06. Continuous improvement of the project, which makes it an increasingly viable alternative to Ethere, attracts enthusiasts and investors. Its market capitalization rose to $ 70 billion.

XRP also deserves mention in this list. At the end of 2020, the cryptocurrency appeared to be on the verge of collapse, given a lawsuit by the SEC. These days, the price has recovered again and the cryptocurrency has reached a market capitalization of $ 60 billion.

The last cryptocurrency to be mentioned is Dogecoin. It never ceases to amaze and, above all, becomes independent of Elon Musk. The performance of these days instead shows that Dogecoin is becoming a recognized means of payment. In short, it’s no longer just a meme coin.

These and the 11,200 other cryptocurrencies currently listed on Coinmarketcap and 393 exchanges are contributing to overall capitalization growth. After crossing the $ 2 trillion mark, we can only wait and see what the next move will be.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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