Crypto Market Cap Rises to $1 Trillion For First Time Ever

Fuelled by Bitcoin, Total Cryptocurrency Market Cap Reaches $1T USD

Institutional and retail users entering the crypto market have selected Bitcoin (BTC) as the digital currency of choice, sending prices soaring from one all-time high to the next. The influx of capital marks a possible tipping point for cryptocurrencies, as mainstream interest in Bitcoin increases. 

Crypto adoption and ownership is gaining popularity as well, driven in part by buy-in from stalwart financial services providers who offer users new ways to buy crypto. More people are choosing cryptocurrencies over traditional assets like gold or bonds, while global companies are racing to buy Bitcoin. 

The $1 trillion dollar figure is undoubtedly a triumph for long-time crypto enthusiasts and advocates who watched the total market cap peak at $814.3B in January 2018 before pulling back. But with momentum accelerating in recent weeks, the next milestone may be close at hand. Other cryptocurrencies have also recorded massive price gains. 

Notably, Ether (ETH) has increased by over 46% YTD just a few days into 2021, opening up another potential avenue for growth. As things stand, the cryptocurrency market is stronger than ever, and cryptocurrency values have already proven to be more durable than 2017’s crypto boom. Though this market cap milestone was driven primarily by Bitcoin, which today accounts for nearly 70% of the total crypto market cap, even as Bitcoin trades at over $36,000, many users are looking into the future, and asking—”what’s next?”