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Cryptocurrency Market Capitalization Hits Record $2 Trillion

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The cryptocurrency market capitalization reached an all-time high of $2 trillion on Monday.

The crypto market cap was boosted mainly by bitcoin, which maintained a market value of $1 trillion for one week, and by a rally in Ether.

Bitcoin accounts for more than half of the entire cryptocurrency market capitalization.

BTC, having touched its all-time record of $60,743 on March 14, continues to consolidate in the market.

2021 proved to be a year in which Bitcoin displayed its strongest performance ever, rallying over 100 percent.

The most popular cryptocurrency is trading at $57,726 as of this writing. BTC's current market capitalization is $1.09 trillion. Global trade volume made a sharp surge in the last 24 hours to $66.21 billion, CoinMarketCap data shows.

Ether, the second most traded cryptocurrency, also contributed to the latest boost in the crypto market.

ETH price reached a record high of $2,151 in Asian trading hours Tuesday morning. The digital coin is currently trading at $2,054, 180 percent higher than the rate at which it was sold at the beginning of this year.

Ether's current market capitalization is $243.73 billion, and global trade volume is $30.40 billion, according to CoinMarketCap.

New demand from both institutional and retail investors helped the market capitalization of the cryptocurrency market grow by double in just over two months, according to data and market trackers CoinGecko and Blockfolio.

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