The value of the cryptocurrency market once again hit an all -time high (ATH) at a record $ 2.6 trillion.
Based on observations at CoinGecko, the latest record has surpassed the previous value recorded on May 12, by $ 2.55 trillion.
Indirectly, the market value of cryptocurrencies has increased 233% since early 2021 when it was only $ 780 million.
Contrary to the January 2018 record, the crypto market value managed to reach up to $ 830 billion.
Undoubtedly, Bitcoin (BTC) plays an important role in driving the surge in the value of the cryptocurrency market.
Based on observations, at the time of writing BTC has recorded an increase of 2.9% in 24 hours, 14.3% in a week, and over 32% over the past month with a current trading value of $ 62,511.74. Its market value has reached $ 1.18 trillion!
When compared to the world’s giant firms, Bitcoin ranks 6th, bigger than Facebok ($ 915 billion) but below Amazon whose market value is $ 1.7 trillion.
Ethereum, meanwhile, is worth $ 458 billion, almost equal to the market value of Chinese giant Alibaba.
The altcoins market however did not show any encouraging movement in the last 24 hours despite the BTC moving positive:
Binance Coin (BNB): $ 474.90 (+0.5%)
Cardano (ADA): $ 2.15 (+0.5%)
Ripple (XRP): $ 1.10 (+0.4%)
