Crypto market capitalization reaches $ 1 trillion because Solana and Polkadot explode two digits

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.