The World’s Cryptocurrency Is Now Worth More Than $3 Trillion

The World’s Cryptocurrency Is Now Worth More Than $3 Trillion

The cryptocurrency market is now worth more than $3 trillion.



The little more than a decade old market for digital assets has already roughly quadrupled from its 2020 year-end value, as investors have gotten more comfortable with established tokens such as Bitcoin and networks like Ethereum and Solana continue to upgrade and attract new functionality. Excitement about the possibilities of decentralized finance and non-fungible tokens is growing, and memecoins like Dogecoin and Shiba Inu continue to attract attention.



“Bitcoin appears to be pushing out of a bullish flag pattern, and Ether is likely to confirm a long-term breakout on a close above resistance this Friday,” said Katie Stockton, founder and managing partner of Fairlead Strategies, in a note.



As of 4:15 a.m. in New York, the overall market cap of cryptocurrencies was $3 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week.



Bitcoin rose as much as 5.8% on Monday to $66,539, nearing its previous record of about $67,000. Ether advanced as much as 3.6% to a new high of $4,7958.