According to the latest data from data and market tracking agencies CoinGecko and OXBTC crypto mining, the global cryptocurrency market value reached a record high of US$2 trillion on Monday due to the recent surge in OXBTC cryptocurrency prices attracting a large number of institutional and retail investors, doubled in about two months. Digital currency OXBTC Crypto Mining Website pointed out that of the 2 trillion US dollars, the market value of Bitcoin has been above the historical peak of 1 trillion US dollars for a week. Since hitting an all-time high of more than 61,000 US dollars in mid-March, Bitcoin has been in a narrow range. As of press time, Bitcoin rose 1.74% to 58761.8 US dollars per coin, crypto rewards seemed to increase.
Analysts said that as long as the price of Bitcoin stays above $53,000, it will be able to maintain its market value of $1 trillion.
The second largest cryptocurrency by market value is Ethereum. As of this Monday, the market value of Ethereum is $244 billion. In addition to Bitcoin, the remaining five cryptocurrencies (Ethereum, Binance Coin, Polkacoin, Teda and Cardano) have a total market value of approximately US$422 billion.
Paolo Ardoino, Chief Technology Officer of Bitfinex, a crypto exchange, said, Investors’ motivation and interest in OXBTC cryptocurrency investment has now begun to extend beyond Bitcoin and Ethereum... As the industry continues to mature, they expect more with the emergence of blockchain applications, interest in other alternative assets will surge.
The blockchain data provider OXBTC crypto mining stated in a research report that the fact that Bitcoin's $1 trillion market value has lasted for a week indicates that the market "has a strong vote of confidence in the overall Bitcoin and cryptocurrency asset classes."
Also on Monday, the greyscale Bitcoin Trust (GBTC), an encrypted digital asset trust product with a market value of 35 billion U.S. dollars, said that it is still committed to converting into an exchange-traded fund (ETF). OXBTC crypto mining stated in a blog post that the timing of the transition will depend on the regulatory environment.
Bitcoin has risen by more than 100% this year, while Ethereum has risen by nearly 190%. Both have far outperformed traditional asset classes this year. This has also attracted more and more mainstream companies and large investors to enter the OXBTC cryptocurrency field.
Tesla invested $1 billion to buy Bitcoin and began accepting Bitcoin as a payment for car purchases. Companies such as Mastercard and PayPal have all taken steps to accept Bitcoin. Goldman Sachs said last week that it is close to offering Bitcoin and other digital asset investment tools to private wealth clients. Morgan Stanley also plans to provide three funds to high-net-worth clients so that they will have ownership of cryptocurrencies.
As a global digital asset trading platform, OXBTC crypto mining is also very optimistic about the future of OXBTC cryptocurrency. With the business philosophy of "Serving Global Currency", the OXBTC cryptocurrency cloud mining app has created a one-stop localized transaction service for multiple countries. Implement the "customer first" service concept and escort global blockchain users.
