Cryptocurrency market cap surged to a record high

Cryptocurrency market cap surged to a record high

A new record for the cryptocurrency market at the beginning of the week

According to data from CoinGecko and Blockfolio, the cryptos market cap hit an all-time high of $2 trillion, as gains over the past several months attracted demand from institutional and retail investors.

The show's star was Bitcoin, which broke its record as it hit a $1.1 trillion market cap. Moreover, Ethereum reached a market cap of $244 billion and hit a record high of $2,144.99 on Friday.

Also, the surge was due to the cryptos acceptance as a payment method, with companies like Tesla and BNY Mellon paving the way. Since the beginning of the year, Bitcoin went up more than 100%, while Ethereum has gained almost 190%.

And with central banks such as Morgan Stanley and Goldman Sachs, the crypto market could be something worth keeping a very close eye on.

Sources: reuters.com, cnbc.com

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