The capitalization of the crypto market reached $2 trillion
In connection with events on the world stage, cryptocurrency transactions have intensified. This led to the growth of the market to $2 trillion.
The market grew thanks to a sharp increase in the price of bitcoin, which has risen in price by 15% per day. During the trading session on March 2, 2022, the price of BTC rose to $45 thousand. Then a small pullback followed, and the cryptocurrency was trading in the region of $43.5-$44.5 thousand.
Along with bitcoin, other cryptocurrencies have risen in price. ETH went up, adding 12%, Solana (SOL), which went up by 18.5%, Polkadot (DOT) — by 13%, Avalanche (AVAX) — by 16%. The most expensive cryptocurrency LUNA. Its price has increased by 70% in a week.
The BTC coin is currently the most valuable coin by market cap. During the price increase to $45,000, the capitalization of this cryptocurrency amounted to $835 billion.
Another surge in prices is possible as the head of Real Vision predicts increased cooperation within the industry. He tweeted:
This moment in Crypto feels a lot like March 2020 - Back then we threw the worse possible news at it (a pandemic and a global shut down) and it fell very sharply but failed to make a new low.
— Raoul Pal (@RaoulGMI) March 1, 2022
Back then BTC turned up 10 days before the NDX. But bonds led Crypto.
According to GlobalBlock analysts, in the short term, the cryptocurrency market has separated from the traditional finance market. The state of affairs in the stock markets will not have a strong impact on bitcoin and altcoins.
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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.
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