Market Insights: Global Crypto Capitalization Reaches $4 Trillion Amid Ethereal Surge

Crypto Market Cap Adds $200B in Days as Ethereum (ETH) Taps $4.2K: Weekend Watch

The total crypto market cap is once again hovering above the $4 trillion mark after a staggering addition of nearly $200 billion over the course of just a few days. In a surprise move, Ethereum’s price surged to a three-and-a-half-year high of $4,200.

Bitcoin, on the other hand, has not fared as well, losing some momentum and finding itself stuck around $117,000 after failing to break through the psychologically important barrier at $118,000. This comes as a surprise, given its strong performance in previous weeks, but it’s clear that market participants have turned their attention elsewhere.

This week, it was all about Ethereum (ETH) as it broke new ground and soared past $4,200. The surge is a testament to the growing interest in decentralized finance and the potential applications of blockchain technology across various sectors.

The cryptocurrency’s remarkable run has led to a 2% decline in Bitcoin’s dominance over the market, now sitting at around 58%. This shift away from BTC suggests that investors are increasingly looking beyond the flagship currency and exploring other options for diversification purposes.

Meanwhile, many altcoins have been on an incredible tear, with DOGE, LINK, HYPE, CRO, UNI, XMR, and others experiencing significant gains. ENA has been particularly remarkable, increasing by a staggering 20% to $0.73, while PEPE has also seen its price surge by 11%, reaching $0.4.

The sudden rise in cryptocurrency market capitalization is an unprecedented trend that cannot be ignored.

Source: cryptopotato.com