Crypto Market Cap Swells to $2 Trillion on Back of Bitcoin Rally
- ETF inflows, MicroStrategy purchases bolster the token
- Bitcoin is outshining traditional assets so far in 2024
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The combined value of the cryptocurrency market has jumped to around $2 trillion for the first time on almost two years on the back of the ETF-fueled rally in Bitcoin.
The largest digital asset, which data from CoinMarketCap.com shows accounts for about 52% of the entire market, rose as much as 5.1% to $57,443 on Tuesday. Bitcoin has surged around 12% already this week, and is trading at the highest level since December 2021. The value of the crypto market reached around $2.7 trillion a month earlier, when token prices were at all-time highs.