In yet another major development, the total cryptocurrency market capitalization has $1 Trillion (1000 Billions!) for the first ever. The historical move was aided by Bitcoin smashing new ATHs crossing $37K and Ethereum trying to retake it’s former ATH at $1400! The currency value for the market capitalization stands at $1.03 Trillion, the Bitcoin and Ethereum dominance is at 67.4% and 13.6% respectively!
During the last bull run of 2017-18, the total cryptocurrency market capitalization was able to $848 Billion and was slightly short of this achievement. The cryptocurrency and blockchain market will usher in a new era of established status as an unconventional asset gaining widespread approval. According to the developments in the last couple of months, major companies and funds have started to invest in cryptocurrencies and holding them on their balance sheets, further granting them legitimacy.
If this continues, analysts are predicting that the last bull run can become a normal blip on the price action charts, because of the potential of the currency market state and sentiments to create all time highs. This will cause massive capital influx into this asset class through a so called domino effect, where each existing participants encourages and paves ways for new entrants. One thing is certain, the crypto-assets are rising and the rally shows no signs of ending anytime soon, not especially with the current financial uncertainty around the world.