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Crypto market approaches $3 trillion for the first time as Bitcoin surpasses $66k By BTC Peers

by Mike Robinson

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© Reuters Crypto market approaches $3 trillion for the first time as Bitcoin surpasses $66k

As many altcoins make huge gains, the total cryptocurrency market capital is closer to $3 trillion.

At press time, $2.88 Trillion was the total crypto market’s value, an increase by 4.49% over the day before. Also, the 24-hour volume in crypto markets saw an 14.73% rise to $107.77billion.

The total DeFi market volume stands at $15.30 trillion, 14.2% of which is the 24 hour volume. Meanwhile stable currencies make up 75.67%, with $81.55 billion.

BTC currently trades around $65,900. That’s an increase of 6.45% in 24 hours and 6.1% for the past week. With a market cap totaling $1.2 trillion, it is trading around $65,900. Bitcoin prices rose by $61,710 and $66,094 respectively within 24 hours of receiving inflows totaling $70 billion.

However, despite Bitcoin’s bullish run in the past two years, its dominance has declined to 43.2% after reaching a peak of 70.8% on September 6, 2019.

Numerous crypto experts contributed their views to the recent market rally. Crypto Birb, a certified technical analyst, stated that Bitcoin has already begun to move towards the $80,000 mark.

Research has shown that Bitcoin ranks first among investments that offer high returns on investment (ROI). BTC PEERS reported that Bitcoin had been named the most-performing asset in 2021, with its performance increasing by close to 50% over this past year. Many other analysts also predict that Bitcoin will surpass new milestones this year.

In terms of market share, Bitcoin continues to outclass its closest competitor by more than double with 40.5% or $1.22 trillion, in comparison to Ethereum’s 18.6% or $560 billion. It is notable that the total capitalization of all digital currencies combined is only 40.9%, or $1.24 Trillion, which demonstrates the diversity in the sector.

Now, we move onto. The market-cap second-largest cryptocurrency trades at a new ATH $4,734, up 4.60% yesterday and 9.34% last week. Its rival, which reached a record $258 on November 7th, now trades at $243. This is 3% less than its 24-hour average.

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