The market capitalization of cryptocurrencies has reached $ 2.1 trillion while some of the largest cryptos have reached historic highs. While Bitcoin hit $ 61,000, reaching levels not seen since March 13, ETH and BNB have surpassed historic marks.
After failing to overcome its $ 60,000 round number nemesis for weeks, bitcoin finally broke above it. Most of the alternative currencies are also in the green, with ETH and BNB rising to new ATH records at just $ 2,200 and $ 485, respectively.
Bitcoin explodes to more than $ 60,000
Bitcoin was unable to continue its bullish trajectory after its highest record in mid-March at $ 61,800. Instead, the cryptocurrency reversed its trend and, a few weeks later, even threatened to drop below $ 50,000.
Although he tried several times to claim the $ 60,000 range, he failed and each rejection took him further down, with the coin bears gaining momentum. However, the situation has changed from yesterday to today.
It all seemed somewhat familiar, as BTC fought for about $ 58,000 when the bulls took control and started an impressive climb. The asset earned more than $ 3,000 in a few hours and rose to about $ 61,200 at the American exchange Bitstamp.
Despite falling back a bit since it was just $ 600 from its historical record, the cryptocurrency is still above the coveted $ 60,000 level at the time of writing, according to Coingolive.
It is worth noting that now the price of Bitcoin is at a level three times higher than the December 2017 record, which many believed BTC would never return to.
Naturally, its market capitalization has also benefited, which is now well over $ 1.1 trillion, while dominance in the crypto market has remained around 55%.
The dispute for second place
Most of the altcoin market has outperformed BTC in performance in the past few days. With the remarkable emergence of Bitcoin now, some have joined the race and set new records.
Ethereum rose 3.2% on a 24-hour scale, but rose even further at specific times. As a result, the second largest cryptocurrency broke its previous ATH by peaking at nearly $ 2,200 for a new record.
Binance Coin, arguably the top 10 top performer last week, also had a strong bull run. BNB exploded by more than 14% and recorded a new historic high at $ 485. Binance’s token is now trading at $ 474 with a 6.2% rise in the past 24 hours.
Ripple XRP, for its part, exploded 25% and hit the price of $ 1.25, showing a very strong recovery since its last victory in the case against the SEC in the USA, but the process is not over yet and there are still relevant risks for investors.
XLM (10%), VET (7.2%), EGLD (7.8%) and BCHSV (6%) are also among the biggest increases of the day, but with less relevant market capitalizations.
Ultimately, the cumulative market capitalization of all digital assets also reached a new record of almost $ 2.1 trillion, after growing by more than $ 200 billion in two days.