Crypto market cap surges to record $2 trillion, bitcoin at $1.1 trillion
SectorFinancial Markets
CountryMiddle east

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The cryptocurrency market capitalization hit an all-time peak of $2 trillion on Monday, according to data and market trackers CoinGecko and Blockfolio, as gains over the last several months attracted demand from both institutional and retail investors. By mid-afternoon, the crypto market cap was at $2.02 trillion. The surge was led by bitcoin, which hit its own milestone by holding at a $1 trillion market cap for one week. was last up 1.4% at $59,045.

Since hitting a lifetime peak of more than $61,000 in mid-March, bitcoin has traded in a relatively narrow range. Analysts said as long as bitcoin stays above $53,000, it will be able to maintain its $1 trillion market cap. , the second largest cryptocurrency in terms of market cap, was up 1.3% at $2,103. Its more...