11 Jan 2021
Total Crypto Market Cap surpasses $1 trillion for the first time
A new milestone was reached in crypto this week as the total market capitalization of all cryptocurrencies surpassed $1 trillion for the first time ever.
On Wednesday, January 6th, the total market cap of all crypto assets surpassed $1 trillion for the first time in history.It’s safe to say that the rally in bitcoin has reached altcoins, as altcoins saw extreme returns throughout last week, with Ether (ETH) pushing upwards towards its ATH.However, as bitcoin headed downwards on Sunday and Monday, altcoins followed with more fury, confirming that altcoin movements are based on a risk-on approach.The last week saw some of the most influential altcoins from 2017 make big moves, and even XRP rallied hard despite its recent issues with the SEC and delisting from exchanges.Given the risky nature of altcoins bets, we recommend avoiding overexposure in the more speculative parts of the market.