Investing in cryptocurrencies has once again gained momentum during the past one and a half months. Investment in almost all cryptocurrencies has increased, especially after bitcoin futures were allowed in the US market last month. The market cap of cryptocurrencies had increased to $2 trillion in August this year, but now it has increased further and has crossed the $3 trillion mark on Monday.
Bitcoin 11.6 percent costlier in seven days
According to data from CoinGecko, the cryptocurrency’s market cap fell to less than $2 trillion in September after a series of corrections. However, after October 1, there was huge investor interest in all cryptocurrencies including Bitcoin, Ethereum, Binance Coin, Solana, Dogecoin, Shiba Inu. Because of this, there was a huge increase in cryptocurrencies. In the last seven days, the price of bitcoin has increased by 11.6 per cent, while that of ethereum is up by 11.2 per cent. Binance Coin, Solana, Cardano, XRP, Polkadot and The price of Dogecoin rose by 17.6, 21.4.,17.2,15.7.,5.7 and 3.6 percent respectively.
The value of bitcoin is more than twice that of the combined Mcap of JPMorgan Chase and Visa, know what is the reason for this jump
$8.9 billion invested in cryptocurrencies so far this year
Analysts say that the market cap of the cryptocurrency has increased after the coin rally in recent days. But the biggest reason for this was the approval of the Bitcoin Futures ETF by the US Regulatory. Apart from this, the interest in NFT and decentralized finance has also attracted people towards cryptocurrencies.
According to CoinShares, there was an investment of $174 million in digital assets last week. This is the 12th consecutive week that investment in cryptocurrencies has increased. $8.9 billion has been invested in cryptocurrencies so far this year. This was more than $6.7 billion in 2020 investment.
Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.
.