The crypto market cap today surpassed 2 trillion dollars; an all-time high for crypto since its inception over 10 years ago. Bitcoin, the largest of the more than 6,600 coins is worth about $1.1 trillion alone after its price more than doubled in 2021 to over $58,000. Bitcoin of course is the major driver of this surge as it possesses over half of the entire crypto market cap.
Source: Pexels
Bitcoin has garnered over a 100% raise this year alone and Ethereum over 190%. This along with a lot of new addition to the Defi world has had us seeing new additions to the top 50 coins by a market cap like Chainlink, Pancake, Uniswap and 1INCH amongst others.
The almighty BNB can also not be excluded. The recent entrance of Binance into the Defi space has made BNB over x10 pushing it into the number 3 spot among the great market cap holders. In fact, some analysts think that BNB might push harder as the year goes and take Ethereum's undefeated number 2 spot.
Bitcoin still remains the stronghold of the crypto market anyway with over 50% dominance and the big increase or the last few months was mostly due to large scale adoption by companies and large institutional investors like Tesla (and Elon Musk) and Square among a handful of companies that have purchased bitcoin.
With more companies and large investors going into Bitcoin and Crypto, and with more development in the Defi space, how high or how long do you think this bull run will last?
Will these all-time highs be new support points?
Do you think we can see a market cap of close to 3 trillion dollars before the year run out?
DAILY AFFIRMATION INFLUENCED BY THINK AND GROW RICH - NAPOLEON HILLS
By the 31st of December 2021, I will accumulate a Net Worth of $20,000 with a monthly income of $1,000 or more.
In exchange for this, I will work as a Freelance Web Developer for my startup company Patch Castle, working on multiple personal and client projects.
I will also be actively involved with multiple blockchains and crypto project that I believe to have potential. While doing this, I will keep working towards graduating from medical school.
My mission in life is to become very successful, financially independent and find happiness in all I do.
Written by @gamsam.
