Cryptocurrency Market Cap Hits 2 Trillion

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The market capitalization of all cryptocurrencies in existence surpassed 2 trillion on April 5, according to data from Goingecko, led by the impressive growth of Bitcoin BTC, Ether ETH and other altcoins in 2021. The cryptocurrency market as a whole has become approximately as valuable as Apple, the secondbiggest company in the world after Saudi Arabias oil giant, Aramco.

The milestone also comes less than three months after the cryptocurrency market surpassed 1 trillion for the first time back on Jan. 7 when the price of Bitcoin was around 33,000.

In recent months, several major catalysts have fueled both Bitcoin and Ether to rally strongly to new alltime highs. Financial institutions, like PayPal and Visa, are beginning to actively support cryptocurrencies, with Bitcoin leading the cryptocurrency markets uptrend.

In 2021, Bitcoin has faced several shortterm corrections but has now consistently remained above 50,000 for almost a month, with low volatility compared with altcoins, preventing both ETH and the altcoin market from seeing a severe pullback.

On April 2, Coinbase, the top United States cryptocurrency exchange, announced that the U.S. Securities and Exchange Commission SEC approved its S1 filing. Coinbase is expected to be listed on the Nasdaq exchange on April 14, making it a publicly traded company on the U.S. stock market.

Depending on the performance of the stock, it could also lead exchange tokens such as Binance Coin BNB, FTX Token FTT, Huobi Token…

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