Crypto market cap hit a new high reaching $1.7 trillion

by in Cryptocurrency News

Crypto market

Not only bitcoin (BTC) broke another record this week, but also other digital currencies.

We will remind, on the eve of the BTC rate updated its historical maximum, and the capitalization of the digital currency turned out to be above $ 1 trillion, as many analysts had predicted earlier.

Bloomberg strategist Mike McGlone, for example, tweeted that the rise of BTC has become a symbol of the digitalization of the global economy. Moreover, he is sure that bitcoin will not stop at the results achieved and will reach $ 100,000.

Today BTC is trading just above $ 55,370. Altcoins are also gaining in value. The largest of them ether (ETH) on Saturday, February 20, exceeded $ 2,000.

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The top ten growth leaders were Binance Coin (BNB), Polkadot (DOT), and Cardano (ADA), which jumped in price by more than 16% to $ 293, $ 37.8, and $ 1.03, respectively. All digital currencies are worth over $ 1.718 trillion today.

The capitalization of tokens locked in the DeFi decentralized finance market has also surged to a new high. Now the cost of DeFi projects exceeds $ 43.24 billion.

According to DeFiPulse.com, the top three are held by Maker, Aave, and Compound, whose capitalization is $ 7.37 billion, $ 5.8 billion, and $ 5.46 billion, respectively.