Ethereum and bitcoin prices rose significantly, and the market value of cryptocurrency temporarily exceeded US $1trillion

The following is the Ethereum and bitcoin prices rose significantly, and the market value of cryptocurrency temporarily exceeded US $1trillion recommended by recordtrend.com. And this article belongs to the classification: online finance, Bitcoin.

The two largest participants in cryptocurrency, bitcoin and Ethereum, have made a modest recovery in the past few days, helping to push the overall market value of cryptocurrency back above the $1trillion mark. Although it is only a short time, at the time of writing this article, the market was still $40billion away from this milestone, most digital assets have experienced an increase in the past seven days.

The past few weeks have not been friendly to cryptocurrency investors. In May, bitcoin collapsed to its lowest level since 2020, erasing $1trillion of market value from the market. Subsequently, the lending platform Celsius froze withdrawals due to “extreme market conditions”.

At present, the price of bitcoin is $21407, while Ethereum hovered around $880 on June 18, and now it has risen sharply to $1227. However, these figures are still about 30% lower than the price at the beginning of this month. Compared with the price in November last year, they are only a fraction. However, investors will be happy to see that the cryptocurrency ranked first and second is developing in the direction they want.

Looking at the top 100 cryptocurrencies, the trend in the past seven days is similar. Most of them are rising. Dogecoin is nearly 30% higher than a week ago. This boost may be due to Elon Musk’s saying that he continues to support and buy, despite the $258billion lawsuit filed by investors against him and his company.

Coinmarketcap’s global cryptocurrency market value is still below $1trillion, or $960billion, but if the upward trend continues, this may change again.

The collapse of terrausd and Luna, as well as rising inflation, contributed to the recent decline in the price of cryptocurrency. No one knows whether they have withstood the storm and continued to rise, or whether it is just a dead cat jump before falling again.

From cnbeta Com read more: coingecko: the total market value of cryptocurrency has exceeded the $3trillion mark. Paysafe: research shows that 55% of cryptocurrency holders want to receive wages in the form of digital assets such as bitcoin or Ethereum yougov:3/4 of American adults have heard of bitcoin coinmarketcap: in August 2018, the global market value of cryptocurrency fell to $200billion. Britain is the financial situation: in May 2022, bitcoin fell 14% to $27000, and Ethereum fell 23%yougov:2017 Coinmarketcap: the total market value of cryptocurrency exceeded $500billion for the first time. Coinecko: the share of the market value of bitcoin in the total market value of cryptocurrency fell to a new low of 42.6% Bernstein: the market value of cryptocurrency exceeded $2trillion, almost the same as the amount of gold held for private investment purposes. Google Trends: the data shows that “buy bitcoin with credit card” The search volume reached a record high. Coinmarketcap: in December 2017, the market value of the global cryptocurrency exceeded $600billion. Coinmarketcap: in November 2017, the total scale of the global cryptocurrency exceeded $300billion. Freelander: in 2017, the growth rate of jobs related to Q3 cryptocurrency reached 82% pitchbook: since the end of 2020, investment giants have invested nearly $43billion in the cryptocurrency industry. FTC: since 2021, losses from cryptocurrency scams have exceeded $1billion

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