International Cryptocurrency Market Cap Touches $2.2 Trillion

The market capitalization of cryptocurrencies reaches a record high of $2.2 trillion.
On Monday, the market value of all cryptocurrency assets exceeded $2.2 trillion, as a result of a positive surge in BTC, ADA, BNB, and ETH. Cardano recorded an all-time high of $2.88, and Bitcoin passed the $50,000 value threshold.
The total market capitalization of digital currencies has reportedly reached its highest point since May 16, 2021, according to Coinmarketcap. In the last four weeks, the market capitalization of cryptocurrency assets increased by almost $1 trillion, following a low of $1.19 trillion on July 21.
With 43.7% of the global cryptocurrency market capitalization, Bitcoin is by far the most popular cryptocurrency. With 18% of the total market capitalization, ETH is the second most valuable cryptocurrency asset. Cardano is third in terms of market capitalization among cryptocurrency assets, having surpassed $90 billion, or over 4% of the total.
“BTC started buying and selling within the mid $46,000 vary earlier than buying and selling all the way down to $44,000 by Thursday,” said Simon Peters, Market Analyst at eToro, last week. Since then, it has had one more late-week rally, jumping from a low of $44,177 to almost $50,147 at the time of writing. Ethereum experienced a similarly turbulent week, plunging from just around $3,300 to below the $3,000 mark by the middle of the week. Even so, it has subsequently recovered and is currently trading at about $3,325, which is its highest level since late May of this year.
PayPal said earlier today that the company has opened up its bitcoin businesses to UK-based customers. Following the news, the cryptocurrency market capitalization saw a sharp increase, with analysts characterising the most recent declaration as a crucial step towards broader use of cryptocurrencies in the UK.
Peters said, “PayPal has been hinting at the debut of cryptocurrency shopping and promotion in the UK for a while, but it has now announced that it will allow UK-based users to buy and advertise cryptocurrency tokens starting this week. Consumers will be able to hold four different cryptocurrency assets: Bitcoin, Ethereum, Litecoin, and Bitcoin Money. It is not yet known, though, if the agency would allow users to make deposits in the listed cryptocurrency.