Mark Weaden
The cryptocurrency market cap reflects the growth of the industry in 2021 by hitting an all-time high above $3 trillion
The cryptocurrency markets began to pick up speed around the start of October and haven’t shown any signs of slowing down. We are now witnessing all-time highs for numerous cryptocurrencies, notably for big players like Ethereum, Bitcoin, and now Solana, which has become the fourth-biggest coin on the market.
The total market capitalization for all cryptocurrency assets has topped out at a record high of 3 trillion dollars. The popularity of trading has grown at an unbelievable rate so far this year, with popular crypto exchange markets seeing a huge influx of new investors, as well as investment from the private sector.
A Big Year For Crypto
The growth in the fintech industry has been incredible. The fast-moving cryptocurrency industry has seen its market cap increase by 8.4% over the past seven days and a staggering 284% since the beginning of the year, which equates to a $775 billion increase since January 1st.
The industry isn’t just growing because of public investment, but because the companies and technologies driving things forward are being financially backed. New crypto companies are hiring some of the most exciting young professionals in their sectors. Crypto markets are now larger than the world’s largest company by market cap, which is Microsoft at $2.5 trillion.
Bitcoin has a market cap of over $1.2 trillion and still stands as the big fish in the pond with 41.3% of the market. The younger brother Ethereum has always seen excellent growth and now has a market cap north of $500 billion. The other big winner since the markets started to bubble is Binance Coin (BNB), which has seen a great deal of new investment taking its market cap beyond $110 billion, as of today.
The development of the blockchain industry has accelerated at a rapid rate in the last year. A combination of mainstream adoption and a substantial amount of private investment into blockchain-based technology has led the market to rise to the ceiling we are now seeing. It will be interesting to see if Ethereum will reach $5,000 and Bitcoin breaks the $70,000 mark in the coming weeks.
