Bitcoin and Ethereum smashed their previous all-time highs today, leading the crypto market capitalization past the $3 trillion mark.
BTC & ETH Lead Market Wide Rally
Bitcoin (BTC), the flagship cryptocurrency token, attained a new all-time high of $68,641.57, as per data from CoinGecko.
The token has since slightly cooled down to trade in the $68,000 range. The total market capitalization for BTC currently stands at $1.286 trillion with a market dominance of 41.65% amongst other cryptocurrency tokens.
“We’re getting the feeling that the market has shifted. People are now figuring out that not having any exposure, even a small amount, is probably not a good thing moving forward, so they’re having to allocate at this price,” mentioned Matthew Dibb, CEO of Stack Funds, a Singapore based crypto asset manager, in an interview to Reuters on Nov. 9.
Along with Bitcoin, the most utlized cryptocurrency token in the DeFi markets, Ethereum (ETH) hit a new all-time high of $4,857.25 on Nov. 9, as per data from CoinGecko. At the time of writing, the token is exchanging just below its ATH at $4,827.35 with a market capitalisaition of $570.72 billion. The multinational investment banking giant, Goldman Sachs, has predicted the token could hit $8,000 by the end of year as the token is only just reaching the “starting point of an accelerating rally.”
Bitcoin is the first cryptocurrency token to pop uo into existence in 2009, after it was conceptualized by Satoshi Nakamoto with the Bitcoin whitepaper in 2008. Since then despite the market flooding with thousands of crypto tokens, BTC has held its own as the premier cryptocurrency. The total supply of BTC is capped at 21 million tokens
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Source : solana.news