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Crypto Market Back at $2 Trillion Market Cap as Bitcoin, ADA, XRP, DOGE Rise

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Sun, 08/15/2021 - 09:49
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Yuri Molchan
Now that Bitcoin, ADA, XRP and other altcoins are rallying, the overall cryptocurrency market has regained the $2 trillion level
Crypto Market Back at $2 Trillion Market Cap as Bitcoin, ADA, XRP, DOGE Rise
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Earlier today, the overall value of all digital currencies regained the $2 trillion level triggered by Bitcoin and top-line altcoins – XRP, ADA and Dogecoin – rallying and showing big gains.

On Saturday, August 14, the total value of the cryptocurrency market went up to $2.06 trillion. On that day, the flagship cryptocurrency, Bitcoin, managed to rise as high as $48,150 but then reversed. For BTC this was the highest price mark since May 16 – it has managed to remain above the 200-day MA.

Ethereum spiked as high as $3,329, XRP (up 61 percent over the past week), ADA (rose 47 percent to become the third largest crypto) and Elon Musk’s favorite Dogecoin also showed massive surges.

Related
Bitcoin Sees Sharp Rejection at $48,000, Drops Nearly 5 Percent

Cardano’s native coin rallied that much in total before and after the announcement of the upcoming smart contracts launch.

Higher rises are expected by ADA and XRP communities. Earlier today, the founder of the Digital Currency Group and Grayscale, Barry Silbert, tweeted that now $100,000 is a magnet for Bitcoin, just as two years ago tweeted the same about the $20,000 level.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.