Topline
The combined value of the world’s cryptocurrencies hit $2 trillion Wednesday afternoon for the first time in nearly three months, reflecting a wave of renewed optimism in the space that’s bolstered top cryptocurrencies bitcoin and ether alongside a slew of smaller cryptocurrencies.
The value of the world’s cryptocurrencies is at its highest level in nearly three months.
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Key Facts
The market crossed the $2 trillion threshold at about 10:45 a.m. EDT Wednesday—its highest level since a $1 trillion flash crash in May, according to cryptocurrency data website CoinGecko.
The milestone comes as a slew of cryptocurrencies post massive gains over the past week, with bitcoin surging 19% to a three-month high above $46,500.
Ether and binance coin, the world’s second and third-largest cryptocurrencies, respectively, have soared more than 20% apiece, similarly hitting months-long highs.
This is a developing story. Please check back for updates.
Further Reading
Crypto Market Price Suddenly Soars Toward $2 Trillion—Could Ethereum Be About To ‘Flip’ Bitcoin? (Forbes)
Bitcoin Tests Resistance Near $45,000 After Breaking Free Of Prior Range