The total cryptocurrency market cap at press time stood at $2.13 trillion, which is a 23.29% or around $403 billion increase from the month before when it amounted to $1.73 trillion, according to CoinMarketCap data Finbold acquired on March 28. In the last 24 hours, the global crypto market cap has increased by 5.86%, rising from $2.01 trillion to the current $2.13 trillion. Furthermore, the total crypto market volume over the previous 24 hours is $112.03 billion, marking a 77.22% increase.
Bitcoin pushing the market cap growth
The increase in the valuation of the crypto market as a whole can be partially ascribed to the recent massive resurgence of major cryptocurrencies, especially Bitcoin (BTC), which is bullishly trading above the $47,000 mark ($47,210 at press time). This is an increase of 19.88% over the last 30 days when its price was $39,980. The largest cryptocurrency by market cap is now valued at $898.56 billion, giving fuel to some of the experts’ claims that the flagship digital asset could act as a safe haven during times of geopolitical instability. Meanwhile, Ethereum (ETH) has also been making strides over the past month, growing from $2,772 to the current $3,345, or 20.67% in just 30 days. Over the previous 24 hours, its price has increased 6.40% The current market capitalization of Ethereum at the time of publication was $402.61 billion, making it the second-largest cryptocurrency by this indicator. Meanwhile, Finbold has reported that the signs of recession are becoming evident all over the European Union (EU) and the United States, inciting fears of a possible sell-off and growing inflation. In the meantime, the interest in cryptocurrencies as the potential hedge against such developments continues to rise. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
