Cryptocurrency market renews record and reaches $ 2 trillion worth – Money Times

Cryptocurrency market renews record and reaches $ 2 trillion worth – Money Times
Cryptocurrency market renews record and reaches $ 2 trillion worth – Money Times
Analysts have said that as long as bitcoin keeps its price above $ 53,000 (Image: REUTERS / Dado Ruvic)

The market value of cryptocurrencies broke a new record, at 2 trillion dollars, this Monday, according to data from Business CoinGecko and Blockfolio follow-up. For months, the market has been driven by demand from retail investors as well as institutional investors.

The growth in the value of the cryptocurrency market was led by the bitcoin, which recorded its own milestone by maintaining an appreciation of $ 1 trillion for an entire week.

The digital currency traded at a 1.5% high at 17:04 (Brasília time), quoted at $ 59,095.

Analysts have said that as long as bitcoin keeps its price above $ 53,000, the currency will be able to sustain the market value of $ 1 trillion.

Ethereum, the second most important cryptocurrency in the world by market value, showed an increase of 1.45%, at 2,105 dollars, and a market value of 244 billion dollars.

On Friday, the currency reached a record $ 2,144.99.

“Although 2 trillion dollars in market value is considerable, it is still less than 1% of the value that can be stored in the blockchain format, which means that there is still a lot of room to grow,” said Sergey Nazarov, co-founder of Chainlink, a decentralized network that provides data for contracts based on the blockchain system.

Blockchain data provider Glassnode said in a report that the fact that bitcoin maintains a market value of $ 1 trillion for a week represents “a strong vote of confidence in bitcoin and the asset class formed by cryptocurrencies as a whole.”

Bitcoin accumulates more than 100% appreciation this year and ethereum, almost 190%.

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