On Monday, the overall market capitalization for crypto assets surpassed $1 trillion for the first time in five weeks. Bitcoin and Ethereum, the two biggest cryptocurrencies, are at the forefront of market recovery.
Three major crypto-bankruptcy proceedings have begun, and investor expectation for Ethereum’s long-awaited integration continues to rise, making this a relative milestone.
Despite a terrible second quarter, the crypto market has recovered $1 trillion in value.
Bitcoin (BTC), has had a price pump to $22,500, while Ethereum (ETH) has seen a double-digit bubble to around $1,500. The cryptocurrency market has risen by 4.8 percent as a consequence of its efforts, bringing it to an all-time high of $1.02 trillion.
BTC has returned to $420 billion, while Ethereum’s market capitalization has grown by more than $20 billion to $180 billion in the last 24 hours. It was on June 13 when the cryptocurrency market topped $1 trillion for the first time in over two months.
Ethereum (ETH), which is slated to transition from its present incarnation as a proof-of-work (PoW) blockchain to an energy-efficient proof-of-stake (PoS) network in September, is outperforming Bitcoin with a 7.7 percent gain over the last 24 hours.
After reaching a daily high of $1,486, ETH rose to $1,560 as of press time, according to statistics from CoinMarketCap. Ethereum, which is now maintaining the psychological threshold of $1,500, has also increased by an astonishing 28 percent in the last week.
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