In less than 24 hours’ time the entire crypto industry got to see increased gains @ 2.4% on Monday, 1st March, 2021 which significantly increased crypto market capital further. Bitcoin again led the industry as it easily passed the US$ 50,000 critical value barrier.
After taking a nosedive, Bitcoin retreated back with the help of an acquired surge for about 15%. The surge took the value of Bitcoin from US$ 43,021 to US$ 50,244 in less than 24 hours’ time on Monday, the 1st March, 2021. The analysts and experts regarded the latest surge as the “barrier piercer” as they thought US$ 50 K was a critical value barrier for Bitcoin. However, the value dropped again under the critical value barrier and as of this time, Bitcoin is swapping hands for US$ 48,611.49.
In any case, the entire market value of Bitcoin is currently touching US$ 926 Billion. On the other hand, the trade volume of Bitcoin throughout the world is exceeding US$ 22.83 Billion.
Since the day of its launch till to date, Bitcoin has been able to mark its dominance in the crypto industry. As per data and statistics, the overall market valuation for the entire crypto industry is over and above US$ 13.83 Trillion. As of today’s exchange rate of Bitcoin, its market capital is hovering at US$ 906.93 Billion.
As usual, the second high in demand cryptocurrency is still Ethereum which too saw significant growth recently. On Monday, Ethereum’s value also accumulated a price increase when it went over US$ 1,583. The surge recorded for Ethereum was 9% approximately. Yet, Ethereum is looking to regain what it had lost in the past week.
A week ago Ethereum’s price acquired an increase of 12% but it dropped the next day. With the help of a new surge of 9%, it is still lacking to retrieve back a further 3%. The present swap value of Ethereum is US$ 1,542/- according to Coindesk’s digital currency exchange index.
At third place in the crypto industry is Cardano (ADA) – an altcoin. Currently, this altcoin is exchanging hands at US$ 1.29 per unit. It is also at number three spot amongst crypto assets in terms of its market valuation. Recently, a company in Dubai was also seen being highly bullish about ADA. The company announced that it will soon be selling its Bitcoins for onward purchase of ADA.
Another altcoin that also earned massively is BNB – a tokenized form of crypto launched by globally popular crypto trading platform, Binance. On Monday, the value of BNB also surged by at least 18% putting it at a place where it was traded for US$ 262.
Bitfinex’s CTO, Paolo Ardoino, commented that the week started on a high note for cryptocurrencies. He stated that the fragrance of resurgence is prominent in the air.