The global cryptocurrency market capitalization has once again surpassed the $4 trillion mark, reaching $4.14 trillion, as a strong rally sweeps across the top digital assets. The upswing, which has seen the market size increase by more than 2%, is being driven by a renewed and improved sentiment from both corporate and retail investors.
Bitcoin (BTC) and Ethereum (ETH) are leading the charge, with both experiencing significant price appreciation. Bitcoin briefly touched $124,000 before pulling back to $121,000. This has cemented its position as the world’s largest cryptocurrency, with its market cap edging higher to about $2.5 trillion. The token has seen a more than 6% gain over the last seven days, reinforcing its bullish momentum.
Ethereum, the second-largest cryptocurrency, is currently trading around $4,800 at the press time. Aided by sustained demand from corporate treasury buyers and strong inflows into ETH-focused funds, Ethereum has eclipsed its 2021 all-time high and is now brushing up against a market cap of $572 billion, with bulls targeting the $600 billion psychological milestone. Since its April low of about $1,400, Ether has soared 240%, making Bitcoin’s 60% gain look like a weekend stroll.
In other notable market movements, Ripple (XRP) has inched up to $3.25, gaining 64 basis points on the day. However, its momentum has slowed, and Solana (SOL) is already down by 1% in the last 24 hours to settle at $205.
