Crypto market gains $1 trillion in a month with investors flocking in
Amidst a rapid change in the crypto market from a disorderly decline a few months ago, cryptocurrency bulls are currently holding on to their grip on the disruptive financial asset class.
CoinGecko has tracked more than 9,000 digital tokens, and their value has grown from $1.2 trillion to about $2.2 trillion. Over the past day, the crypto market value has increased by 3.02% to $2.15 trillion and the crypto market volume has decreased by 1.29% to $103 billion.
According to DeFi, the total 24-hour volume in the crypto market is currently $16.6 billion. Stablecoin volumes now total $79.63 billion, or 77.09% of the 24-hour volume in the crypto market. Bitcoin’s price is $50,319.80.
Bitcoin’s dominance is currently 43.88%, a decrease of 0.09% over the day.
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During Asian trading Monday, bitcoin surged to almost $50,093, while other tokens such as Ether and Cardano’s ADA also rose.
Bitcoin’s value is now predicted to be $100,000 or even more in the coming years, thanks to the revival of virtual currencies. For now, others predict the volatile, speculative asset will achieve a wider trading range.
Investors are showing long interest in Bitcoin, which is a sign of medium-term pricing, although futures pricing is certainly different from earlier this year.
With a number of crypto assets, including bitcoin and other leading altcoins, increasingly gaining traction among traditional assets in investment portfolios, developers are concerned advancements in quantum computing could undermine bitcoin’s encryption as soon as 2026 if the software is not updated.
