Crypto industry

Crypto Industry Market Cap Crosses $2 Trillion

The crypto market just had one of its biggest moments of the year as the market capitalization of all cryptocurrencies just crossed the $2 trillion mark according to data from Coingecko. This is after the industry had witnessed a bull run that began towards the tail end of last year that has now resulted in this watershed moment.

Notably, all digital assets as a whole are now worth as much as Apple, the second most valuable company in the world, which is just behind Saudi Arabia’s oil giant Aramco. What makes this record more interesting is the fact that the industry crossed the $1 trillion mark less than three months ago on January 7th when BTC was still in the range of $33k. While the asset has since been able to cross the $60,000 mark, however, it is currently trading for $58,685. 

In recent times, the crypto industry has enjoyed wider adoption as we have seen the entrance of big institutions like Meitu, Tesla and others. We have also witnessed major payment gateways like Visa and MasterCard enter the fray as they now allow their teeming customers to settle payments directly in cryptocurrencies.

Not only that, regulators around the world have been forced to take a stand towards the industry as they have seen most of the people under their jurisdiction make judicious use of these digital assets. Interestingly, the market cap of the industry is now one-fifth of that of gold which still stands at $10 trillion.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
Related Posts