Crypto Market Value hits $2.5 Trillion as Ethereum Hits Record High

Crypto Market Value hits $2.5 Trillion as Ethereum Hits Record High

Ethereum is partially responsible for this feat, has it has recorded weekly gains of about 30% with Ether breaking new highs with Ether hitting $4,000 on the FTX exchange.

At press time the global crypto market value stood at $2.49 Trillion a 1.17% increase over the last day.

The total daily cryptomarket volume hovers around $246 Billion, which postulates a 13.65% increase. The

Bitcoin’s price is currently $59,219.08 with its dominance reaching a record low of 44.44%, while Ethereum’s dominance is at 18.3%.

Taking a fundamental look at Bitcoin, reveals investors see it has store of value, making the crypto asset’s dormancy a reasonable proxy for why many institutional investors use it majorly as a Treasury asset while Ethereum represents a far more active use for the global financial ecosystem, which is usually deployed for applications and smart contracts.

The sudden growth cited in the crypto-verse especially in the last four months is attributed to the credence gotten from leading global brands, with the likes of Mastercard, Tesla, PayPal, Visa, and even Hedge Funds showing significant interest in its technology and hedge against their traditional investments.

Market’s pundits