The cryptocurrency market advanced in market capitalization to a whooping $3 trillion for the first time in history today Monday 8 November 2021.
This record-breaking feat is significant for the crypto world as the overall market cap has surged by over 280% from $775 billion on 1 January 2021. According to Coingecko, the total cryptocurrency trading volume in the last day is at $192 Billion. Bitcoin dominance is at 41.2% and Ethereum dominance is at 18.7% with 10,464 cryptocurrencies being tracked.
While this feat is mind-blowing the crypto market is growing as expected. Investors are becoming more comfortable with cryptocurrencies and the excitement about NFTs, Defi, Gamefi, and some memecoins, including Shiba Inu, has brought in many newbies into the crypto world.
In the last 24 hours, Bitcoin price jumped from $62k level to over $66k, approaching its all-time high. Ethereum on the other hand is also on the move, making a new all-time high after surging past $4700 and currently looking towards $5000 per coin.
Remember that the crypto market is highly volatile. Therefore, to the trader, securing profits in the current bullish market is vital.