Crypto economy nears $2 trillion

Digital Coins

Milestone zone! Digital currency market has made significant gains this week, with the entire market capitalization of more than 8,500 cryptocurrencies in existence jumping a few percentage points.

As a result, the overall crypto valuation is steadily approaching the $2 trillion handle.

While Bitcoin may have spiked a touch over 1.5%, a few other coins have made much larger gains. Leading the charge is Ether that has jumped by around 16% this week, with the world’s second largest cryptocurrency now trading at $2,132.

Visa testing out crypto settlements on the Ethereum network played its part.

Another big mover is XRP, which spiked by 37.4% during the last day alone. While developer Ripple may be under the radar due to a looming SEC case, its token has been doing extremely well for investors as it has gained 68% during the last month.

XRP is currently exchanging hands at the $0.98 per unit mark.

Bitcoin Cash also shined on Monday, as well as jumping 12% against the US dollar today, and 9.3% against BTC. Bitcoin Cash is trading for $626, with prices up by 17.56% during the last week.

Things are a bit complicated for the big daddy, Bitcoin.

The leading cryptocurrency in terms of market valuation, BTC is currently down by about a percentage point for the day, trading at $58,274.

All in all, combined, the cryptocurrency economy is nearing another landmark, merely a couple of months after it first topped the $1.5 trillion milestone. And interestingly, the market this time around is visibly different than what it was back in February.


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