The cryptocurrencies are literally on fire and they have seen a total market cap of $2 trillion on Monday with the help of increasing trading volume of altcoins. The absolute winner of the competition is XRP going up by 76% in the last 7 days.
Coinmarketcap published the data for the total value of digital currencies as they reached $2 trillion on 5 April which recorded an all-time high. Moreover, the price of XRP has surpassed $1 on 6 April and seems to keep breaking new records after the Ripple lawsuit finally fell off the agenda.
The total market cap of cryptocurrencies is fluctuating around $1.98 trillion as of writing and Bitcoin slightly has observed a decrease in its market cap standing at the level of $1.09 trillion. XRP made a huge jump and moved up to 4th place among all digital assets in terms of market cap with a market value of $45 billion in front of Tether, Polkadot and Cardano.
While Bitcoin is currently struggling, Ethereum has performed very well and reached an all-time high of $2,150 yesterday nurtured by the increasing demand of retail and institutional investors. Grayscale also stated the expanding institutional interest in Ethereum-based investment products. The asset manager currently controls more than 3.1 million Ethereum in its portfolio with an overall value of more than $6.5 billion. The rise of XRP is also remarkable since the cryptocurrency has had very difficult times when SEC’s Ripple lawsuit was on everyone’s lips.
In addition to these two coins, Binance Coin also hit a benchmark of $50 billion market cap while the price of the cryptocurrency has surged 32% in the last week. As of wiring, the BNB price comes to an all-time high of $394 with a market cap of more than $60 billion.
Currently; Bitcoin, Ethereum, BNB, XRP, Tether and Cardano rank as the world’s top 6 cryptocurrencies according to Coinmarketcap.