According to Coingecko data, the total market value of all cryptocurrencies exceeded $ 2 trillion on April 5.
With this rise, the crypto market reached the same value as Apple, the second most valuable company in the world, after Saudi Arabia’s oil giant Aramco.
The cryptocurrency market first surpassed $ 1 trillion on January 7, when Bitcoin was traded at around $ 33,000.
Will the altcoin bull market continue?
Some factors in recent months have triggered both Bitcoin and Ethereum to start the rally and break records.
Large financial institutions such as PayPal and Visa have started to actively support cryptocurrencies.
Although Bitcoin experienced some short corrections in 2021, it remained above $ 50k for almost a month with a low volatility compared to altcoins, preventing altcoins from also experiencing a serious correction.
In fact, the fluctuation of Bitcoin, which has been consolidated between 55-60 thousand dollars in recent days, has dropped to the lowest level seen since November 2020.
In the same period, Ether started the rally and exceeded 2 thousand dollars.