$ 1 trillion is the total market capitalization, as bitcoin has reached the $ 38,000 mark, while some high-cap altcoins have exploded with double-digit gains.
Another day and another high for bitcoin – this time, the cryptocurrency reached just inches from the $ 38,000. The entire market also broke a significant milestone by reaching $ 1Q, after impressive double-digit gains from Ripple, Chainlink, Cardano, Stellar and more.
Bitcoin’s most recent ATH approaches $ 38,000
It is safe to say that BTC entered the new year with a bang. In addition to a brief drop below $ 28,000 in which the cryptocurrency has filled a gap left open at CME, bitcoin is on the rise, breaking records after records.
In the past 24 hours, the asset has continued to rise and invaded unknown territory once again. After enduring high volatility that put it below $ 34,000, the BTC started an impressive rise that resulted in the last high of all time – above $ 37,800.
Despite falling back a bit since then, bitcoin is still traded above $ 37,000.
Data from Santiment indicated that the increase in BTC to new highs changed the opinion of people who are now “pumping the purchase narrative”, while yesterday, the number of “sale offers” dominated social circles.
$ 1 trillion is the total market capitalization
Yesterday another massive milestone was reached by all cryptocurrencies – the market capitalization exceeded US $ 1 trillion for the first time.
This became possible, as several altcoins have imitated BTC’s impressive performance in recent times, with notable gains. On a 24-hour scale, Ethereum jumped 7% to $ 1,120, Binance Coin (6%) to $ 44, Polkadot (2%) to $ 10, Litecoin (3.5%) to $ 168 and Bitcoin Cash (5.5%) to $ 450.
However, there are even more notable gains in the top ten, including the most recent entry – XLM.
Stellar doubled in his recent bull run. XLM has risen 60% since yesterday and 190% in a week to $ 0.36. This occurred when the Foundation partnered with the Ukrainian government to develop a CBDC.
Ripple rose 30% to $ 0.30. Cardano’s 21% increase to $ 0.34 helped ADA to overtake BCH in terms of market capitalization. Chainlink added 16% and trades close to $ 17.
More gains are evident with Matic Network (23%), Kyber Network (23%), Decentraland (23%), NEM (22%), Siacoin (22%), Augur (20%), Qtum (17%) and More .
Altcoins reduced the dominance of BTC to 68.3%.