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Crypto Market Cap Reaches $2.5 Trillion

The crypto markets are booming now after a significant drop off in price that occurred just a few weeks ago. At the end of April, the entire value of the crypto markets slid down to $1.76 trillion. Skip forward a few weeks though three-quarters of a trillion dollars have been pumped back into the markets and for the first time in crypto history the entire market is now worth $2.5 trillion dollars.

In recent weeks we have talked about the dropoff in Bitcoin dominance with that number being at 42%. This of course still represents a large number with the coin still being valued at over $1 trillion. The big mover in recent weeks that has significantly added to this number is the price of Ethereum. The coin is now on the brink of having a market cap of $500 billion dollars and is very close to being worth exactly half of the value of Bitcoin. Many expect the difference in market cap between the top 2 to shrink even further.

If you are good at maths you would have quickly worked out that this means the rest of the market makes up the value of just shy of $1 trillion. With every coin in the top 100 currently having an evaluation of at least $1 billion. At the time of writing, there are 135 coins with a market cap of above $500 million.

All of this is incredible when you consider where we were during the month of March 2020 when Bitcoin slid below $4k and the financial markets were in crisis as the pandemic hit the majority of the world. Sometimes we can look at other coins with envy but it is important to remember the opportunity crypto represents and no stock on the market has seen gains comparable to the likes of Binance and ADA Cardano.

The next target is $3 trillion dollars and this can honestly be reached in no time at all. If Bitcoin continues to remain stable, this could see the other coins in the top 10 and many coins lower down in the list such as MATIC, VET, and EOS continue to rise. A rise of $50 billion a day would take us to this target in just 10 days. Considering the action of previous bull cycles and how the markets are currently lined up this drastic move could be described as more probable than it is not.

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