Per data from CoinGecko, cryptocurrency’s total market capitalization has broken the $1.9 trillion mark, eyeing $2 trillion again since the May historical fall.
Over the last 21 days, the crypto market has seen a massive rise, amounting to the market value surging by nearly $700 billion. However, this figure is still $700 billion below its ATH reached on May 11 $2.5 trillion.
While the entire crypto market is recovering, the flagship crypto-asset and Ethereum have both rested their mid-May levels in terms of market share.
Happening for the first time since May, Bitcoin’s market value rose above $860 billion on Monday. It reached $1 trillion early in the year but plummeted to $560 billion before picking up on July 21. With BTC’s price currently above $45k, the asset’s market value has seen a 53 percent increase.
The second-largest asset, Ethereum, has seen around 81 percent gain, rising to $369 billion from $204. Similarly, Ether’s price has surged by 50 percent following the activation of its highly anticipated London Fork Upgrade that aims to solve issues such as high transaction fees.
Also, this has pushed some assets market cap forward, the likes of BUSD, USDT, and USDC have all lost their position in the top 10 most-value cryptocurrencies list, and have been replaced by Uniswap and other digital assets. As of the time of this report, the third-largest asset by market cap, BUSD, is now in the 11th position.