The crypto market has doubled in value to $2 trillion in just 3 months amid a massive rally

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

The market capitalization of all cryptocurrencies hit $2 trillion on Monday, hitting an all-time high and doubling in value in just three months amid a massive rally in the digital currency space. Data from CoinGecko and Blockfolio show that the value of all cryptocurrencies surpassed $2.02 trillion midday Monday led by the rally in bitcoin, ether, and other altcoins. "While $2 trillion in market cap is a sizable amount of value stored in the blockchain format, it is still less than 1% of the value that can be stored in that format, which means there is still much further to go in terms of both market cap and overall smart contract adoption," Sergey Nazarov, co-founder of Chainlink, told Insider. The new record came just a few months after the cryptocurrency market hit the $1 trillion mark for the first time in January. Since then, cryptocurrencies have become as valuable as Apple. Bitcoin traded higher on Monday to $58,819, after flirting with $60,000 last more...