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The market capitalization of crypto has penetrated $ 1 trillion for the first time early this morning local time.
At the same time, Bitcoin (BTC) recorded a daily high of $ 37,313, the latest all-time high record after surpassing $ 35,800 yesterday.
Based on market capitalization, the crypto asset class has doubled since last month as BTC recorded its latest consecutive record high and Ether (ETH) managed to surpass $ 1,100 for the first time in three years.
This means that both assets have brought in about two-thirds of the total crypto market.
High market capitalization was achieved a few days after the market penetrated the 2017-2018 bull market highs. At the peak of the last cycle in early 2018, the total market capitalization was estimated at around $ 830 billion.
At the time, altcoins also recorded an increase, approaching $ 547 billion after Bitcoin slipped back from a record high in December 2017.
However, today the altcoin market is worth less than half that amount due to the dominance of Bitcoin in the current cycle.
Crypto market observers are currently expecting bullish for Bitcoin and altcoins this year after institutional demand for BTC increased, consecutive surges and natural decline, including market cycle flows for every four years.
