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Crypto Market About to Reach $1 Trillion as Ethereum Hits $1,200

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Wed, 01/06/2021 - 19:02
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Alex Dovbnya
Ethereum has hit yet another all-time high, surging with other cryptos
Crypto Market About to Reach $1 Trillion as Ethereum Hits $1,200
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The cumulative value of the whole cryptocurrency market is close to hitting a historic milestone of $1 trillion. 

As of now, the entire industry is just two percent away from reaching that target, with all coins being worth $969 billion.   

Bitcoin, the largest cryptocurrency, currently accounts for 67.7 percent of that sum, with its market cap breaching the $650 billion level earlier today.

The cryptocurrency alone is now worth more than Warren Buffett's Berkshire Hathaway and Jack Ma's Alibaba.      

Yet, Bitcoin's dominance is down more than seven percent over the past two days alone. 

CMC
Image by @cburniske

 

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New all-time highs 

Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, have both hit their respective all-time highs today. 

The crypto king is holding nicely above $35,000 after trading nearly $35,900 while Ethereum has just breached $1,200 for the first time in its history.   

Altcoins were posting absolutely massive gains earlier today, with Stellar (XLM) skyrocketing over 120 percent.

Even the embattled XRP cryptocurrency is in the green today after catching up with the rest of the market in spite of Ripple's legal woes.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.