Hassan Maishera
TL;DR
-
The total cryptocurrency market cap hit the $4 trillion mark earlier today thanks to a rally by the leading cryptocurrencies.
-
ADA, ETH, DOGE, and XRP all added double-digit percentages to their values in the last 24 hours.
Total Crypto Market Cap Hits $4 Trillion
The cryptocurrency market has been rallying over the last few weeks, with Bitcoin setting a new all-time high of $123k earlier this week. Altcoins seem to have taken over, with most of them recording excellent gains in the last few days.
Ether, the leading altcoin by market cap, added 9% to its value in the last 24 hours and now trades above $3,600. Ripple’s XRP is approaching its all-time high price of $3.84 after surging 13% to hit $3.6.
Dogecoin, the leading memecoin by market cap, is heading towards $0.25 as it is up 14% while Cardano’s ADA is looking to overtake Tron as the 9th-largest cryptocurrency market after adding 12% to its value in the last 24 hours.
The rally by the leading cryptocurrencies has seen the total cryptocurrency market hit the $4 trillion mark for the first time in history. This cycle’s growth is fueled by growing institutional demand for crypto products like ETFs. Furthermore, the DeFi, memecoin, gaming,g and RWA sectors of the crypto market continue to attract more investors.
