Following a strong week of gains by leading coins, Bitcoin, Ethereum and a number of other big-cap cryptos, the cryptocurrency market capitalisation has eventually surpassed the important $1 trillion mark, its highest since June 13.
Technext reports that this is important because, after weeks of a market downturn, uncertainty, and volatility, things are now looking positive for the crypto market which has revolved around a $900 million market cap in the last month.
According to data from Coinmarketcap at press time, total market capitalisation is sitting at $1.02 trillion. Major digital assets like Bitcoin, Ethereum, BNB and Solana are also in the green zone. There have been a 10.34%, 41.56%, 15.49% and 29.14% increase respectively in the last seven days.
Experts are saying that since Bitcoin has been able to weather a LUNA and DeFi-induced liquidity crisis – the two largest capitulation events for BTC by volume loss since 2011 – the worst risk has been flushed out of the system, then a massive rally maybe imminent.