The crypto market of all the digital assets has surpassed $2 trillion – this is the market cap of Apple, and the news is as big as it can get.
The news was revealed by data coming from Goingecko – this growth is led by the impressive boom of BTC and ETH.
It’s been revealed that the crypto market as a whole became approximately as valuable as Apple.
This massive milestone comes less than three months after the crypto market surpassed $1 trillion for the very first time back on January 7 when BTC was priced at around $33k.
Cointelegraph addresses whether ETH and the altcoin bull market will continue or not.
The online publication notes that “Financial institutions, like PayPal and Visa, are beginning to actively support cryptocurrencies, with Bitcoin leading the cryptocurrency market’s uptrend.”
They continue and reveal that “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.”
It’s been also reported that Bitcoin’s volatility dropped to the lowest level since back in November 2020 as BTC’s price has been consolidating just under $60k these days.
Ethereum’s price exploded
It’s been also revealed that the price of ETH rallied and broke out against Bitcoin, reaching a new record high above $2,000.
A pseudonymous trader is known as “Rekt Capital” said that this massive performance of ETH is thanks to Bitcoin’s consolidation under $60,000. He wrote:
“#BTC is still just consolidating inside this range. It is this consolidation that has helped $ETH breakout to new All-Time Highs. #ETH is arguably leading the market, whereas $BTC is trying to catch up. Good sign so far is that orange resistance is struggling to reject #Bitcoin.”
Stay tuned for more bullish news, and keep your eyes peeled on the charts.