The market value of cryptocurrency reached 2 trillion, the value of Bitcoin exceeded 1 trillion
Cryptocurrency market value tops $2 trillion. The market value of the digital cryptocurrency has reached an all-time high. According to data and market tracker Coin Gecko & Blackfolio, the total market value of cryptocurrency in the world market reached 2 trillion dollars on Monday.
As the value of the cryptocurrency has been rising in recent months. The demand for cryptocurrency from institutional and retail investors has also been increasing.
The crypto market reached 2 trillion on Monday afternoon.
Bitcoin’s role in the rise in the total market value of cryptocurrencies has been strong.
The market value of Bitcoin has reached 1 trillion. The price of Bitcoin had reached हजार 59,045 per bitcoin on Monday.
The price of Ethereum, the second most expensive cryptocurrency, has reached 2,103 per unit. The market value of Etherium is Rs 244 billion.
In the last year, the price of Bitcoin has increased by 100 percent while the price of Etherium has increased by 190 percent.
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Bitcoin still remains the powerhouse of the cryptocurrency market and over the last few months, saw a big increase in interest among companies and large institutional investors.
Meanwhile, major investment banks are exploring ways to allow clients to get involved with digital asset investments. In March, CNBC reported that Morgan Stanley became the first major U.S. bank to offer its wealth management clients access to bitcoin funds. CNBC also reported last month that Goldman Sachs is gearing up to launch its first investment vehicles for bitcoin. And other digital assets to clients of its private wealth management group.
There is also hope among investors for an expanding portfolio of investment products and many are watching Grayscale Investments, which runs one of the largest publicly traded bitcoin funds. It is known as the Grayscale Bitcoin Trust.
The company said on Monday that it is “100% committed” to converting that trust into an exchange-traded fund, or ETF. That would effectively track the price of bitcoin and allow traders to play the price movement without owning the cryptocurrency itself. It could be a way for more investors to be involved in the bitcoin market.