The cryptocurrency market has seen significant growth over the past two days, with the market as a whole adding $140 billion to its market cap, driven by Bitcoin’s surge to $68,000.
This is the highest in several months, before the coin retreated slightly to around $67,000 at the time of writing this article.
Bitcoin Performance:
After a sharp drop last week to below $59,000, Bitcoin managed to quickly recover to $63,000 over the weekend.
As the new week began, this upward trend continued until the price peaked at $68,000.
The coin could not sustain these levels for long and dropped by around $3,000 before settling at $67,000, up 2% in 24 hours.
This rise is partly attributed to increased demand for Bitcoin-linked exchange-traded funds (ETFs).
This has pushed Bitcoin's market cap to $1.33 trillion, with Bitcoin's dominance over altcoins increasing to 55%.
Altcoins posted mixed gains, with Dogecoin (DOGE) and Litecoin (LTC) jumping more than 6% in the last 24 hours.
Dogecoin is now trading above $0.124, while Litecoin is above $70.
In contrast, gains in other major coins such as Ethereum, Binance Coin, and Solana were minimal.
Thanks to this growth, the total market cap of cryptocurrencies has increased by about $140 billion in the past two days, exceeding $2.4 trillion.
