Crypto Reclaims $1 Trillion Market Cap: BTC Hits $22,000, ETH “Giga Mooning”
The total market capitalization of all cryptocurrencies exceeded $1 trillion in a day of large green candles.
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Goodbye Monday blues, hello bullish news – the total crypto market cap has recovered to the $1 trillion level. The crypto market cap is now almost as valuable as all the money on the planet.
A price pump for Bitcoin (BTC) took the world's most decentralized cryptocurrency into the $22,500 range, while Ethereum (ETH) enjoyed a double-digit "Giga Pump" to hit the $1500 mark. Their combined efforts resulted in a 4.8% increase in the overall crypto market, taking it to a recent high of $1.020 billion.
Crypto market cap is back above the 1 trillion mark!
Is it too early to start being bullish?
— Cointelegraph (@Cointelegraph) July 18, 2022Bitcoin has reclaimed the meme-worthy target of $420 billion in market cap, while Ethereum sits roughly at a total market cap of $180 billion, having added over $20 billion dollars in the last 24 hours. According to the chart below, the last time the crypto market crossed the $1 trillion level was on June 13.
Total Crypto Market Capacity for Last 3 Months according to coinmarketcap.com/chartsA reminder about market caps: in the case of Bitcoin and most mined cryptocurrencies, "market cap" refers to the total value of all coins mined . For Bitcoin, it's simple: multiply the total number of Bitcoins mined since January 3, 2009 (just over 19,096,775) by the current price of Bitcoin, approximately $22,000.i
The trillion-dollar mark was good news for crypto advocates on Twitter. They were quick to celebrate the milestone, while some, like DonAlt, wondered if the new price levels could indicate a bullish reversal:
The total market capitalization of all cryptocurrencies exceeded $1 trillion in a day of large green candles.
Recent news
Goodbye Monday blues, hello bullish news – the total crypto market cap has recovered to the $1 trillion level. The crypto market cap is now almost as valuable as all the money on the planet.
A price pump for Bitcoin (BTC) took the world's most decentralized cryptocurrency into the $22,500 range, while Ethereum (ETH) enjoyed a double-digit "Giga Pump" to hit the $1500 mark. Their combined efforts resulted in a 4.8% increase in the overall crypto market, taking it to a recent high of $1.020 billion.
Crypto market cap is back above the 1 trillion mark!
Is it too early to start being bullish?
— Cointelegraph (@Cointelegraph) July 18, 2022Bitcoin has reclaimed the meme-worthy target of $420 billion in market cap, while Ethereum sits roughly at a total market cap of $180 billion, having added over $20 billion dollars in the last 24 hours. According to the chart below, the last time the crypto market crossed the $1 trillion level was on June 13.
Total Crypto Market Capacity for Last 3 Months according to coinmarketcap.com/chartsA reminder about market caps: in the case of Bitcoin and most mined cryptocurrencies, "market cap" refers to the total value of all coins mined . For Bitcoin, it's simple: multiply the total number of Bitcoins mined since January 3, 2009 (just over 19,096,775) by the current price of Bitcoin, approximately $22,000.i
The trillion-dollar mark was good news for crypto advocates on Twitter. They were quick to celebrate the milestone, while some, like DonAlt, wondered if the new price levels could indicate a bullish reversal:
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