Cryptocurrency market cap tops $1 trillion with bitcoin above $37,000
Comment of the Day

January 07 2021

Commentary by Eoin Treacy

Cryptocurrency market cap tops $1 trillion with bitcoin above $37,000

This note from MarketWatch may be of interest to subscribers.

The market capitalization of all cryptocurrencies topped over $1 trillion for the first time, according to data from Coindesk. That came as bitcoin BTCUSD, 9.15% topped $37,000, trading up nearly 4% to $37,152. Cryptocurrencies have surged, helped by a move in the autumn by PayPal to allow transactions through their service.

Eoin Treacy's view

Cryptocurrencies have risen to a $1 trillion market cap faster than Tesla which is no mean feat. Until quite recently Tesla’s share price advance has been outpacing even the feverish pace of bitcoin’s ascent. That all changed this week with Bitcoin’s three-day jump from $30,000 to $40,000.

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