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Crypto market capitalization reaches $ 1 trillion because Solana and Polkadot explode two digits
The cumulative market capitalization of all crypto-assets for the first time since the FTX debacle have increased the rally of the past two weeks. This is done in the middle of the massive increase in price of several altcoins such as Solana, polygon, polygon, avalanche and others. The beginning of 2023 was quite spectacular for the cryptocurrency market after the painful year 2022. The largest digital asset rose from around $ 16,500 to over $ 21,000 in about two weeks. This increase by 27 % meant that the asset was able to make up for all losses from the FTX collapse in November. It also helped the market capitalization of BTC, 400 ...
Crypto market capitalization reaches $ 1 trillion because Solana and Polkadot explode two digits
The rally of the past two weeks has the cumulative market capitalization of all crypto-assets for the first time since the FTX debacle to over 1 trillion US dollar.
This is done in the middle of the massive price increase of several old coins such as Solana, Polkadot, Polygon, Avalanche and others.
- The beginning of 2023 was quite spectacular for the cryptocurrency market after the painful year 2022. The largest digital asset rose from around $ 16,500 to over $ 21,000.
- This increase by 27 % meant that the asset was able to make up for all losses from the FTX collapse in November. It also helped the market capitalization of BTC to achieve $ 400 billion, and its dominance is almost 41 % after falling to 39 % last week.
- Although Bitcoin's dominance has increased in the past few days, several old coins have actually surpassed them. Solana is a prime example. After the FTX crash, Sol was one of the most damaged assets due to his belonging to the former empire under the leadership of SBF.
- This culminated in a decline under $ 8 at the end of 2022. After some positive words from Ethereum's co -founder Vitalik Buterik, things began to change, and Sol started rolling. It almost tripled its value within a few weeks and rose to over 23 $ this morning.
- Near Protocol is another massive Daily Gainer after an increase of 28 %. Matic, Dot, Trx, Avax and Cro are among the other large cap-alcohols with double-digit price pumps.
- This rally has driven the crypto market capitalization at Coingecko to over $ 1 trillion for the first time in over two months. This means that the metric has been added by more than $ 200 billion since the beginning of 2023.
Market capitalization of cryptocurrencies. Coingecko.