The cryptocurrency market capitalisation has hit an all-time peak of USD 2 trillion, Reuters cited data and market trackers CoinGecko and Blockfolio.
The surge was led by Bitcoin, which hit its own milestone on 5 April 2021, by holding at a USD 1 trillion market cap for one week. Bitcoin was last up 1.4% at USD 59,045. Analysts said if Bitcoin stays above USD 53,000, it will be able to maintain its USD 1 trillion market cap.
Ethereum, the second largest cryptocurrency in terms of market cap, was up 1.3% at USD 2,103. Its market cap was USD 244 billion on 5 April 2021. It hit a record high of USD 2,144.99 on 2 April 2021.
Bitcoin has risen more than 100% in 2021, while Ethereum has gained nearly 190%. Both have outperformed traditional asset classes, bolstered by the entry of mainstream companies and large investors into the cryptocurrency world, including Tesla and BNY Mellon.
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