Crypto Market Cap Breaks $2.5 Trillion
October continues to shine with the combined total market cap for cryptocurrencies reaching and surpassing $2.5 trilion USD.
The total cryptocurrency market capitalization broke $2.5 trillion as the United States Securities and Exchange Commission seems to be open to approving additional crypto futures-linked exchange-traded funds.
According to data from Cointelegraph Markets Pro, the value of all cryptocurrencies has more than doubled since hitting a $1 trillion market capitalization in January. The prices of Bitcoin (BTC) and Ether (ETH) rose to more than $63,000 and $3,800, respectively, as the total crypto market capitalization dipped its toes above $2.5 trillion.
BTC remains the biggest cryptocurrency by market cap at roughly $1.2 trillion, ETH in the second position at more than $448 billion, and Binance Coin (BNB) third with $81 billion. KuCoin Token (KCS), Zcash (ZEC) and Polygon (MATIC) have rallied the most among other cryptocurrencies in the last seven days, rising more than 20% to reach prices of $13.99, $142.44, and $1.47, respectively.
One of the indicators for the overall health of the digital asset class, the crypto market cap, is at highs not reached since May when the valuation peaked at more than $2.4 trillion before a major downturn effectively halved it to roughly $1.3 trillion. The surge comes as the first Bitcoin futures-linked exchange-traded fund in the United States began trading on the New York Stock Exchange, providing additional investors exposure to crypto.