Categories: CryptoNews

Cryptocurrency Market Cap History: Ethereum Surpasses US$20bn, Bitcoin Goes Over US$40bn

It appears some important market cap milestones are being hit as of right now. Bitcoin is inching closer toward the US$40bn market cap, a target that has been in the sights for some time now. Ethereum, on the other hand, recently saw major growth, as its market cap grew from US$11bn to US$20bn. All of this goes to show there is a lot of money flowing into cryptocurrency right now.

Ethereum and Bitcoin Make History

It has been an incredible roller coaster ride for the world of cryptocurrency these past few years. A lot of people doubted the success of Bitcoin and other currencies not all that long ago. We have certainly come a very long way ever since that time, and the results are nothing short of amazing. In fact, the total cryptocurrency market cap now sits at just over US$90bn.

As is to be expected, the vast majority of that money is injected into Bitcoin directly. With nearly US$42bn in total value, the Bitcoin ecosystem is the most valuable in all of cryptocurrency right now. Earlier today, the Bitcoin price briefly hit the US$2,400 mark, although it will hit that target again at some point in the coming hours or days. Demand for Bitcoin has never been bigger, and it looks as if the trend will not settle down anytime soon.

However, Bitcoin is no longer the only top dog in the world of cryptocurrency. Although Bitcoin still has a substantial market cap lead over its closest “rival” in the form of Ethereum, the gap has been closing rapidly. The total

Related Post
Ethereum market cap was around US$11bn not too long ago. Fast forward to today, and it has just surpassed the US$20bn mark. It is evident investors are not looking just at Bitcoin these days, although that will remain the gateway to most other cryptocurrencies for quite some time to come.

There has been a lot of good news for Ethereum which attributed to this market cap increase. The formation and growth of the Ethereum Enterprise Alliance should not be overlooked by any means.At the same time, the underlying technology has been of great interest to many enterprises. Plus, a lot of new innovative tokens and projects are issued on the Ethereum blockchain around the clock. All of these token ICOs reduce the amount of ETH in circulation and bring more prestige to ETH as a whole.

It is unclear what the future will hold for the cryptocurrency, although there is plenty of reason to be excited. Money continues to pour in as we speak, and it seems this trend will not slow down anytime soon. Moreover, Ethereum Classic has just overtaken Litecoin by market cap, indicating the demand for alternative cryptocurrencies will only grow further. This is absolute madness, but cryptocurrency enthusiasts are loving every second of it.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

7 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

7 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

8 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

8 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

12 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

13 hours ago