Global Crypto Economy Above the $2 Trillion Mark for 5 Days

Since March 22nd, the total market capitalization of the global crypto economy has stayed above the $2 trillion mark. The total capitalization of the crypto market globally is about 1.3% higher than what it was 24 hours ago, as the valuation has reached $2.1 trillion. In addition, Bitcoin’s price recorded a jump on Sunday, as it went past the $46,000 mark, pushing the market capitalization of the world’s first cryptocurrency to reach $870 billion. The last seven days have seen the value of digital currencies go up and the total value of the crypto economy has been higher than $2 trillion for five days in a row.

The first week of March had also seen the crypto economy hold a total market value of more than $2 trillion. The value of Bitcoin has climbed by more than 8.9% against the US dollar in the last seven days, while Ethereum has climbed by 8.5%. Of the top 10 largest market caps in the crypto market, it was Cardano (ADA) that recorded the biggest gains in seven days of about 26.5%. A total of 13,421 crypto assets are currently being traded on about 587 exchanges in the market, which have a total value of about $2.1 trillion. This has undergone an increase of 1.3% within a day.

In the last week, the biggest gain was recorded by zilliqa(ZIL), which increased by 148%. Some of the others that experienced gains in the last seven days included vechain (VET) that climbed by 44.9% and convex finance (CVX) that saw a gain of 53.2%. There was also a 3.4% increase recorded in the total market valuation of privacy coins in the last 24 hours and Sunday also saw a 1.7% increase in the market capitalization of the top smart contract platform coins. In addition, there was also a 9% increase in the market capitalization of the top rebase tokens between Saturday and Sunday against the US dollar.

The market capitalization of the crypto economy may have reached $2.1 trillion on Sunday, but the global trading volume on exchanges was about $78.5 billion. The market dominance of Bitcoin at the time of writing was around 40.3% of the total value of the crypto economy, whereas 18% of it is contributed by ethereum (ETH). The third-largest crypto in terms of valuation is the stablecoin tether (USDT), which has a market share of about 3.84%.

Of the total global crypto trading volume mentioned above of $78.5 billion, stablecoins contributed about $42.7 billion of this value. On Sunday, the total value of the stablecoin economy was about $188.9 billion. Other than the $2.1 trillion economy, there are also the decentralized finance protocols that have a total value locked of about $216.58 billion. There was a 1.04% increase in the total value locked in the defi market in 24 hours. Curve Finance is the largest decentralized finance protocolin terms of total value locked and the others in order are Makerdao followed by Lido, Anchor and Aave.