Bitcoin and Ether coins recorded new heights as the cryptocurrency market surpassed $3 trillion.
The Bitcoin price rose to $68,641 by Tuesday as the market price increased by 4 in less than 24 hours. Bitcoin crossed the valuation of $68,000 for the first time in the history of cryptocurrency.
On the other hand, Ether also saw a stark increase in its valuation when its price rose to $4857; a 2% increase in the overall rate in less than 24 hours.
The surge which started in the early hours of Monday continued the same path on Tuesday.
The overall cryptocurrency market surpassed $3.1 trillion, which largely depends upon Bitcoin and Ether exchange. Both coins now make up almost 60% of the cryptocurrency market. Bitcoin holds approximately 42% of the share of the market whereas Ether has a valuation of almost 18%, with the market valuation of almost $1.3 trillion and $568 billion individually.
Binance coin is closely following the two as it is the third most valuable coin offered by the crypto market. It has a market cap of $109 billion and holds about 3.5% of the cryptocurrency market.
Cryptocurrency is at an overall surge. The other coins have also witnessed a surge in their price and valuation. Last week saw double-digit growth of 7 of the digital market coins. Solana, Cardano, and XRP have also witnessed a surge of 17% and 15% in their valuation respectively in the past week.
This sudden surge in cryptocurrency is nothing new to the individuals who play among different crypto commodities. This is the mere reason why the crypto market is considered to be so volatile.
The cryptocurrency market saw black days during the covid-19 pandemic when the market crashed and it was hard to thrive through the tough times. It survives thanks to the influx of investors after the tweets of famous celebrities as well as the faith shown in the crypto market by different financial institutes.
The Crypto market remains unpredictable and as rational as ever. You can’t predict till what level it will surge or at what level it will stabilize. The acceptance of digital coins might yield investments and attract new investors but will it be a safe option of investment – only time will tell.
