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

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Wed, 6/01/2021 - 19:02
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. 

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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

 

Related
Apple (APPL) Erases Entire Crypto Market Cap in Three Days (And It's Just 20 Percent of Its Value)

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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