After dropping below $2 trillion in mid-January, the crypto economy has already risen over it. The USD value of all 12,440 cryptocurrencies traded on 544 crypto exchanges is $2.08 trillion, up 5.2% in the last day, according to statistics.
The Crypto Economy Has Passed the $2 Trillion Dollar Mark!
The overall value of the crypto-economy has risen sharply in the recent week as a result of the rise in digital currency values. This means that following the January market calamity, more than $500 billion has been reinvested back into the crypto industry. Cryptocurrency market capitalization was estimated to be $1.5 trillion on January 24, 2022. On February 7, 2022, the crypto economy’s USD worth had grown by more than 36%, reaching $2.08 trillion. Ethereum (ETH) has a market capitalization of $17.9 billion, while bitcoin (BTC) holds a 39.4% share.
Gala, Quant, Leo, Mina, Zcash, Shiba Inu, Near, Osmosis and Mana are some of the coins that have helped boost the crypto economy’s value northbound beyond $2 trillion. Gala (GALA), Quant, QNT and Leo token all contributed to this success. It’s been seven days since the aforementioned tokens gained anything from 30.3 to 95.3 percent in value against the US dollar.
One day ago, the net worth of privacy coins ($10.6 billion) increased by 3.8 percent; one day earlier, it was the net worth of smart contract platforms ($691 billion). During the last day, meme coin assets valued $41.8 billion increased 11.8 percent, with gains ranging from 7.1 percent to 24.1 percent for dogecoin and shiba inu. Defi protocol-locked total value (TVL) also increased by 2% over the previous day, reaching $220 billion on Monday morning. Of the $134.92 billion in total value locked in Ethereum’s defi TVL, 61.17 percent is Ethereum’s own tokens.
Bitcoin has risen to the position of the world’s 9th most valuable asset as NFT sales plummet by almost 7 percent this week.
NFT sales have decreased this week, despite the fact that the crypto economy has grown to nearly $2 trillion in the last week. Over the course of the week, a total of $967.5 million was generated by 1,449,578 trades involving 309,418 dealers. Compared to the previous week’s NFT sales, the weekly statistic is down 7.83 percent; on Ethereum, it’s down 9.15 percent. Solana NFT sales rose 5.69 percent, while Avalanche NFT sales rose 36.34 percent, making them the third and second largest blockchains by NFT sales this week.
The value of the crypto economy has surpassed that of most current market estimations. Saudi Aramco (Tadawul: 2222)’s (Tadawul: 2222) $1.973 trillion market capitalization would be barely above all 12,440 coins’ USD value. But the crypto economy’s market capitalization is lower than the market capitalizations of gold ($11.544 trillion), Apple ($2.813 trillion), and Microsoft ($2.293 trillion). With a market worth of $821,01 billion, Bitcoin’s (BTC) value is currently the ninth most valuable asset in the world.
