{"id":7566,"date":"2021-08-10T10:51:31","date_gmt":"2021-08-10T09:51:31","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7566"},"modified":"2021-08-10T10:51:39","modified_gmt":"2021-08-10T09:51:39","slug":"total-crypto-market-cap-value-breaks-1-9t-for-the-first-time-in-3-months","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/total-crypto-market-cap-value-breaks-1-9t-for-the-first-time-in-3-months\/","title":{"rendered":"Total crypto market cap value breaks $1.9T for the first time in 3 months"},"content":{"rendered":"\n
According to statistics from crypto data aggregator<\/a>, CoinGecko, the total crypto market capitalization value has surpassed $1.9trillion for the first time since May.<\/h5>\n\n\n\n
\"Total<\/figure><\/div>\n\n\n\n

In early August, the cryptocurrency market maintained a strong bullish trend\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, with the total market capitalization approaching $2 trillion.<\/p>\n\n\n\n

On August 9, the total crypto market cap surpassed $1.9 trillion for the first time since May 18, according to statistics from crypto data aggregator CoinGecko.<\/p>\n\n\n\n

Since July 19, cryptocurrency markets have seen a significant increase, with a market value of approximately $700 billion. The market has lost about $700 billion since reaching an all-time high of $2.5 trillion on May 11.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) have retested their mid-May market capitalization levels, continuing the robust rebound trend.<\/p>\n\n\n\n

According to CoinGecko, Bitcoin's market value surpassed $860 billion on Monday, the highest level since May 16. Bitcoin experienced a huge sell-off<\/a> after breaking into the $1 trillion asset category earlier this year, with its market cap plunging to $560 billion as of July 20. The market value of Bitcoin has soared by nearly 53% since it re-entered the $45,000 range.<\/p>\n\n\n\n

Since the bear market in July, Ether, the second-largest cryptocurrency by market valuation, has risen about 81 percent from $204 billion on July 20 to $369 billion on Monday.<\/p>\n\n\n\n

On Aug. 5, the cryptocurrency experienced a massive network update, with the price of ETH surging 50% following the London hard fork, as investors hoped the upgrade would address issues such as excessive transaction costs.<\/p>\n\n\n\n

In the midst of a resurgent bull crypto market, the market capitalization rankings of certain major cryptocurrencies have shifted.<\/p>\n\n\n\n

On Aug. 5, Binance USD (BUSD), the third-largest stablecoin in terms of market capitalization after Tether (USDT)<\/a> and USD Coin (USDC), was pushed out of the top-10 most valuable cryptocurrencies by Uniswap's governance token UNI.<\/p>\n\n\n\n

BUSD is the 11th most valuable cryptocurrency, with a market capitalization of $12 billion, at the time of writing.<\/p>\n\n\n\n

As previously noted, the latest rise in crypto markets followed Tesla CEO Elon Musk's announcement on July 22 that his aerospace firm SpaceX owns Bitcoin.<\/p>\n\n\n\n

Tesla's CEO also stated that due to a considerable decline in the percentage of non-renewable energy needed for Bitcoin mining, the company plans to resume crypto payments for car purchases.<\/p>\n\n\n\n

Musk's prior decision to cease accepting Bitcoin payments at Tesla owing to the currency's excessive energy consumption was seen as a major factor in the currency's price drop in May.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to statistics from crypto data aggregator, CoinGecko, the total crypto market capitalization value has surpassed $1.9trillion for the first time since May. In early August, the cryptocurrency market maintained a strong bullish trend , with the total market capitalization approaching $2 trillion. On August 9, the total crypto market cap surpassed $1.9 trillion for […]<\/p>\n","protected":false},"author":12,"featured_media":7569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[152,132,2086],"class_list":["post-7566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-bitcoin","tag-crypto","tag-market-cap"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Total-crypto-market-cap-value-breaks-1.9T-for-the-first-time-in-3-months.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7566"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7566\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7569"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}