Crypto data aggregator, CoinGecko, revealed that the cryptocurrency market capitalization has exceeded the $1.9 trillion mark in a strong bullish trend on Monday. The achievement happening for the first time since May brought the total market cap close to $2 trillion.
The market recorded an all-time high of $2.5 trillion in May but is still about $700 billion down. However, there was a significant rise from July 19, when the market value grew close to $700 billion.
Although Bitcoin (BTC) became a $1 trillion asset early this year, it experienced a major price drop in July when its market cap fell to $560 billion. The Bitcoin price has now grown to $45,000 and increased its market value by 53%. CoinGecko also reported that (BTC) experienced a surge on Monday when it struck $860 million for the first time since May.
Ethereum (ETH), the second-largest cryptocurrency by market cap, is also following in the recovery trend. Since July, ETH has been reporting increased gains regardless of July’s bear market, experiencing a surge of about 81%. It increased from $204 billion in July to $369 billion on Monday after the London hard fork upgrade.
However, in the midst of the crypto market’s solid bullish trend, some cryptocurrencies are getting reshuffled according to their market capitalization ranking. The reshuffle has dropped the USD Coin (USDC) and Binance USD (BUSD) from the top 10 most-valued cryptocurrencies. BUSD is currently valued at $12 million and is now the 11th largest crypto by market capitalization.
Image Credits: Pixabay
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