Cryptocurrencies Break Another Market Cap Record - Android

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Cryptocurrencies Break Another Market Cap Record - Android

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There’s anxiety in the crypto streets as the global market cap nears a record-first $2 trillion with the weekend fast… Read More

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There’s anxiety in the crypto streets as the global market cap nears a record-first $2 trillion with the weekend fast approaching. Rates look a bit uncertain, with cryptocurrencies struggling to maintain momentum.

Bitcoin almost breached $60,000 after recording back to back gains before a sharp pull-back caused the currency to reorganize at $58,000. At the time of writing, the digital currency was sitting comfortably above $58,100.

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Since Tuesday, the global crypto cap surged 2.4% to $1.92 trillion, as reported by prominent analytics firm Nomics. Although it shied away from breaking the $2T barrier, cryptocurrencies across the board broke the previous record of $1.8 trillion, which was recorded earlier this month.

As things stand, the value of crypto assets is now almost equal to 26% of gold’s market cap, as the precious metal continues to take daily hits. This is mostly because of Bitcoin’s rise over the last 48 hours, as it gained 2.5% and almost hit $60,000. However, it has dropped almost $1,500 in minutes and looks like the weekend blues are re-approaching.

Similarly, Ethereum was going up, but it’s sinking and looks almost certain to fall below $1,800 over the weekend.

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Lower caps displayed the same rise-and-fall, but there’s reason to believe that regular downfalls and upticks conform to even greater gains as the market continues to trade.