Believe it or not, the leading cryptocurrency, Bitcoin’s market cap is now nearing $1 Trillion. According to the latest news, Bitcoin’s market capped at $900 Billion, which is only $100 Billion short of the extraordinary high. This happens as the BTC price reaches new highs.
There seems to be no end to the ladder that Bitcoin is climbing. Though the market cap of $900 Billion happened only for a few moments today, February 12th, analysts suggest that it will not be long before it crosses the $1 trillion mark. News from Bitstamp, one of the oldest BTC exchange platforms tells us that BTC price reached a peak of $49,000 that resulted in the market cap surging to $912.69 billion. However, the record price remained for a short while after which, it corrected down to $47,000 approximately.
Apart From Bitcoin, The Collective Crypto Market Cap Also Gets A Push
The price of each BTC coin currently stands at $47,250. This shows a 5% upside in the past 24 hours and about 28% in the past week. The market of $900 billion indicates that Bitcoin added another $354 billion in value in the present year alone. The last high in market capitalization was recorded to be $888 on February 8th. Current metrics suggest that this digital coin is responsible for about 61% of the collective market cap of all cryptocurrencies.
In other news, the collective market cap has also seen a steady rise recently after news about the surge in altcoins started spreading in the market. The overall cryptocurrency market cap reached a peak of $1. 463 trillion as of February 12th. This value shows that cryptocurrencies gained approximately 88.5% value in the one and half months of 2021 as it started this year with a collective market cap of $776 billion.