Bitcoin Touches $51,000 Mark As Bulls Dominate The Crypto Market
The cryptocurrency market has turned bullish, and the total market cap of the crypto sector has reached $2.53 trillion, reports dailytimes.com.pk. The biggest gainers have been Bitcoin(BTC) which at 1500 hours GMT has surged by 3.28 % to break the psychological barrier of $51,000 to reach $51,382. BTC’s market cap has reached $964 billion.
Bitcoin, ETH all surge in value due to bullish sentiments
Ether(ETH), the second-largest crypto coin globally, also surged in the wake of bullish sentiments. As a result, its market value grew by .68 percent to reach $4,088. With this price increase, the market capitalization of ETH has reached $480 billion.
XRP has also surged by 1.35 percent to reach $0.979. The market capitalization of XRP stands at $97.9 billion after this increase.
Cardano surges by incredible 7.98%
However, Cardano has become the toast of the town, and its value jumped by 7.98% and stands at $1.46. Its Market Capitalization has reached $47.9 billion with this increase.
Dogecoin(DOGE), the meme-based crypto coin and Tesla chief Elon Musk’s favorite, has also surged in value, especially after Musk indicated that Tesla would start accepting Dogecoin as payment for its electric cars. As a result, Dogecoin’s (DOGE) price went up by 4.72 percent to reach $0.184. With this price increase, the market capitalization of DOGE has reached $24.4 billion.
The crypto world is always in a state of dynamic flux and is evolving and changing all the time. The year 2021 has been a sea-saw of fortunes for the cryptocurrency segment. The cryptocurrency and its Blockchain-based technology are finding wider acceptance, and the spinoffs for other sectors are also immense.
While some states like Turkey, China, Bangladesh, and Iraq have placed a complete ban on the cryptocurrency trade, other nations that, though not happy with the burgeoning Cryptocurrency trade, have advocated some form of control. However, Crypto’s decentralized structure appeals to it the most and is also a panacea for the ills present in the current financial regimens.Source