The cryptocurrency market cap touched an all-time high of $2.5 trillion on Monday after a significant jump in Ethereum. The price of ETH crossed $4,150 today, which is its highest level on record.
According to Coinmarketcap, the world’s second-largest cryptocurrency now has a market cap of nearly $480 billion. The latest price rally in Ethereum is driven by a massive surge in demand from retail and institutional investors.
The overall market cap of cryptocurrency assets is up by more than 200% since the start of this year. Bitcoin, the world’s most valuable digital currency gained nearly 100% in 2021. The latest surge in Ethereum, Binance Coin, Dogecoin and XRP has played a major role in the significant jump of the crypto market cap this year.
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Binance Coin (BNB), the world’s third-largest cryptocurrency, touched an all-time high of $685 billion today after a jump of more than 5% in the last 24 hours. XRP, Cardano, Polkadot and Bitcoin Cash were also up substantially in the last 24 hours.
Ethereum and Cryptocurrency Market
ETH’s crypto market dominance is gaining momentum amid the latest price surge. Ethereum now accounts for nearly 19% of the overall cryptocurrency market cap, which is a significant jump compared to just 11% in December 2020.