Recently the total market capitalization of cryptocurrencies has broken its last highest record of US$2 trillion that was last seen in May, while at the same time also hinting towards a bullish trend from the start of this month.
While this happened on Wednesday night Hong Kong time, the total crypto market cap reached US$ 2.007 trillion and on Thursday afternoon it reached US$ 2.002 trillion, according to CoinGecko data.
For the first time since May this year, the total cryptocurrency market cap is recovering to $2 trillion. While previously on May 12, the total crypto market cap reached a record all-time high of US$ 2.555 trillion.
While checking over the market dominance Bitcoin currently dominates 43.4%, while Ethereum’s Ether accounts for 18.8% of the total cryptocurrency market. This is compared to the dominance of January 1 this year, where Bitcoin has a 71% market dominance, much higher than Ethereum’s 10% market dominance.
According to the data shared by CoinGecko that had an overview of seven days price and growth rates has shown that the price of bitcoin has risen 16%, while ether has risen 18%.
As the London upgrade went live, although hours before the update and trading volume had shown a rise worldwide, thus resulting in the rise of Ethereum cryptocurrency.