Crypto Industry Market Cap Surpasses $1.1 Trillion in Value

Crypto Industry Market Cap Surpasses $1.1 Trillion in Value

The digital coin industry recently reached a record market cap of $1.1 trillion. This spike happened after the recent Bitcoin and Ethereum jumps in price and demand. Over the last 24 hours, the crypto market added $50 billion when the price of BTC crossed $38 000.

Bitcoin is up with some 5% over the past 24 hours, making its total market cap linger somewhere around the $700 billion mark. The world’s second cryptocurrency in terms of market value is Ethereum. It is currently priced at $1600 a pop, a record price for sure. ETH is up more than 30% in the last 7 days. Its current market cap is just above $190 billion.

Other cryptocurrencies that have had a good run thus far in 2021 include Cardano, Litecoin, and Stellar. But the focus is now currently on DeFi tokens, pushing major companies like Chainlink (LINK), Uniswap (UNI), and Aave (AAVE) to gain from the cryptocurrency. Uniswap gained more than 45% in the last 7 days, while Aave also acquired some 42% in the last 24 hours.

Meanwhile, the biggest of all crypto asset managers in the world- Grayscale- acquired 47 000 ETH and 15 345 LTC in just 24 hours. Furthermore, the company also accumulated 16 BTC and 337 BCH. As of writing this, the current total value of Grayscale’s managed cryptocurrency assets is well above $29 billion.

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