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Crypto market reaches to $120 billion as Bitcoin hits top level in last three-month

The crypto market valuation has risen by about $120 billion in a single day, thanks to significant advances in bitcoin and altcoins.

For Bitcoin it had an amazing surge in crypto market, bringing it close to $48,000 for the first time since the beginning of the year. Solana, Polkadot, Avalanche, Dogecoin, Shiba Inu, and other alternative coins are also performing strongly. Bitcoin broke the $40,000 mark on March 16 and hasn’t looked back since. After a few near-misses, the asset began to progressively recapture additional round-number milestones, eventually reaching $45,000 a few days ago.

The weekend began quite calmly, with BTC having retraced a little but remaining in a range between $44,000 and $45,000. At first, it was a reasonably slow day, at least initially, until everything changed. In only a few hours, the cryptocurrency gained about $3,000 and reached an intraday high of $47,800. Furthermore, this is the asset’s highest price since January 2. The significant price hike also resulted in more than $400 million in liquidations. BTC has just retraced a little and is presently trading near $47,000. Nonetheless, its market value is approaching $900 billion.

Most cryptocurrencies were relatively stable during the weekend, but have since risen in value on a daily basis, comparable to bitcoin. Ethereum has also risen beyond $3,300 for the first time in months, with the second-largest cryptocurrency increasing by 5%. Binance Coin (BNB) is now worth more than $430, up 3%.

Ripple, Cardano, and Terra all had price increases of $0.86, $1.18, and $95. More gains come from Solana, Polkadot, Avalanche, Dogecoin, Shiba Inu, and CRO, which are all up between 6% and 8%. Gnosis (28%), Holo (28%), Filecoin (25%), Zilliqa (18%), EOS (18%), VeChain (18%), ICP (15%), eCash (15%), and others have all seen increases. Finally, the cryptocurrency market capitalization increased by $120 billion in a single day, reaching a multi-month high.

Related post:

Bitcoin is in a “very historical bull market”, says Peter Brandt

 

Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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