The cryptocurrency economy has managed to surpass $2 trillion in overall value, a metric not seen in over two months. During the last week, a number of popular digital assets have seen single-digit gains, but there’s been a handful of cryptocurrencies that have seen double-digit weekly gains as well.
Crypto Economy Jumps Over $2T, Handful of Cryptos See Double-Digit Weekly Gains
At the time of writing, the overall valuation of all 11,335 cryptocurrencies in existence has crossed the $2 trillion handle. Crypto prices across the board have improved over the last month and during the last seven days. On Friday, there’s roughly $134 billion in global trades across the thousands of tradeable digital coins. The market capitalization of the crypto economy on Friday is $2,105,153,248,638 which is up over 7% during the last 24 hours.
Out of the $2.1 trillion, bitcoin’s (BTC) market valuation of $883 billion represents 42% of the aggregate value while ethereum (ETH) commands 17.9%. While BTC dominance among the 11,000 crypto assets has been reduced, ETH dominance has not increased as much as that of the handful of other crypto assets gathering double-digit gains. For instance, cardano (ADA) has jumped over 18% in the last 24 hours and is now positioned in the third-largest position in terms of market capitalization.
While Ethereum Dominance Remains Steady and Bitcoin Dominance Sinks, Alternative Crypto Asset Markets Capture New Dominance
Tether (3.17%), XRP (2.42%), and Dogecoin (2.06%) all have market caps that are above the 2% zone in terms of market valuation dominance. Again crypto tokens like audius (AUDIO), avalanche (AVAX), arweave (AR), terra (LUNA), and Solana (SOL) all have gained between 74% to 120% in seven days. AUDIO is up 120% on Friday morning (EDT) and Solana (SOL) is up 74% today.
Today’s top trade volume out of the $135 billion belongs to tether (USDT) which has seen $64 billion in global trades. This is followed by BTC ($38 billion), ETH ($20 billion), ADA ($9 billion), and XRP ($7.5 billion). 12-month statistics against the U.S. dollar show the top five gainers include game stars (GST), mir coin (MIR), content value network (CVNT), stox (STOX), and dogecoin (DOGE).
What do you think about the crypto economy surpassing the $2 trillion zone this week? Let us know what you think about this subject in the comments section below.
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