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| The cryptocurrency has a market cap of $ 2 trillion |
According to data and market chasers CoinGecko and Blockfolio, the total market capitalization of all cryptocurrencies hit a record high of $ 2 trillion for the first time on Monday. However, the market value of all cryptocurrencies was almost as high as that of Apple (the second largest Apple) in the world.
Bitcoin recently rose 1.4% to $ 59,000, and it had a market cap of $ 1.1 trillion.
The success came less than three months after the total market capitalization of all cryptocurrencies exceeded $ 1 trillion on January 7.
Cryptocurrency investors and other advocates of decentralized finance have used social media platforms to signal that cryptocurrency is the future of global finance.
Analysts said: Since the start of this year, institutional and individual investors have been flocking to the cryptocurrency market, prompting many supporters of blockchain technology to encourage others to join the field of decentralized finance.
Big cryptocurrency investors tout bull market potential and prosperity and challenge regulators.
"DeFi is a major innovation and an example of how Ethereum is using blockchain technology," said Corel Lashbrook, a well-known cryptocurrency investor and entrepreneur.
With Ethereum's recent strong performance alongside Bitcoin's approach, several factors and theories have emerged to explain the rapid expansion of the market.
Ark Invest's Cathy Wood said Bitcoin, the world's largest cryptocurrency, would easily beat gold by $ 10 trillion.
Media company CoinTelegraph said Bitcoin's volatility fell to its lowest level since November 2020, noting that its value has nearly doubled since it was priced at around $ 33,000 on January 7.
The currency remained above $ 50,000 for nearly a month, which helped keep the Ethereum and Altcoin markets from falling sharply.
The cryptocurrency market also announced major changes on Monday. GoDaddy sold the Bitcoin.com domain name for $ 100 million.
However, he quickly deleted the domain name of Roger Ver, CEO of the Bitcoin.com portal.