Global Crypto Economy Stays Above $2 Trillion for 5 Days

Global Crypto Economy Stays Above $2 Trillion for 5 Days

 

The global crypto economy has managed to stay above the $2 trillion level for the last five days. The worldwide cryptocurrency market value has increased by 1.3 percent, and stands at $2.1 trillion. On Sunday, the price of bitcoin surpassed $46K, resulting in a market capitalization of $870 billion dollars. Last week, digital assets gained ground, with Bitcoin breaching the $46K and TVL in Defi Holdings surpassing $200 billion.

The value of digital currencies has increased over the last seven days, and the overall value of the crypto economy has remained above $2 trillion for five days in a row. The crypto economy last surpassed the $2 trillion mark during the first week of March. The price of bitcoin (BTC) reached a high of $46,615 per unit at 4:45 p.m. (ET) on Sunday, March 27, 2022.

In the last seven days, Bitcoin (BTC) has gained 8.9% against the US dollar, while Ethereum (ETH) has gained 8.5 percent. Cardano (ADA) had the best seven-day rise of the top ten largest crypto market capitalizations last week, rising 26.5 percent in seven days.

From March 19 to March 26, 2022, the global crypto economy managed to hover above the $2 trillion threshold for five days in a row as per data provided by Coingecko.com. On Sunday, at 4:45 p.m. (ET), bitcoin surpassed the $46K milestone, while ethereum surpassed the $3,220 level. The total market capitalization of the 13,421 crypto assets traded on 587 exchanges is $2.1 trillion, a 1.3 percent increase over the previous day.

The biggest gainers during the last week were Zilliqa (ZIL), which jumped 148% during the week, Convex Finance (CVX), which spiked 53.2% higher, and Vechain (VET), which increased by 44.9% over the last seven days. The top privacy coins by market valuation increased by 3.4% in the last 24 hours, and the top smart contract platform coins by market capitalization rose in value by 1.7% on Sunday. Furthermore, the top rebased tokens by market capitalization increased by 9% during against the U.S. dollar.

Convex Finance (CVX) increased by 53.2 percent, while Vechain (VET) increased by 44.9 percent. On Sunday, the top privacy cryptocurrencies by market capitalization gained 3.4 percent, while the top smart contract platform coins by market capitalization rose by 1.7 percent. In addition, the top rebase tokens by market capitalization gained 9% against the US dollar in the last 24 hours.

The crypto economy was valued at $2.1 trillion on Sunday, global trading volume on exchanges reached $78.5 billion. Bitcoin (BTC) controls 40.3 percent of the crypto economy's value, while Ethereum (ETH) accounts for 18 percent of the $2.1 trillion. The stable coin tether (USDT) is the third-largest crypto market valuation, with a market dominance of approximately 3.84 percent.

On Sunday, the total value locked (TVL) in decentralised finance (defi) was $216 billion, up 1.04 percent in the previous 24 hours. Stable coins were swapped for $42.7 billion of the $78.5 billion in worldwide trading volume traded on exchanges. The stable coin economy had a total worth of $188.9 billion.

Aside from the $2.1 trillion crypto economy, decentralised finance (defi) protocols hold $216.58 billion. The total value locked (TVL) in defi increased by 1.04 percent. Curve Finance, Maker dao, Lido, Anchor, and Aave are the most popular defi protocols in terms of TVL.