Over the past 24 hours, cryptocurrency markets have exploded, with billions of dollars flowing into the crypto economy. Bitcoin reached a new all-time high (ATH) Wednesday morning (EST), to $64,895 per unit. The recent price increase has led to Coinbase’s direct listing on the Nasdaq soon.
Crypto economy exceeds $2.2 trillion in value
Digital currency enthusiasts were delighted Wednesday morning as several new advances were made in the crypto economy. The total crypto economy is currently estimated at $2.2 trillion and has grown by more than 4% today. Bitcoin (BTC) peaked at $64,895 each and is currently trading at $64,229. BTC is up over 2.6 percent today and 15.5 percent in the past seven days. Despite the new ATH, bitcoin’s (BTC) dominance among the 9215 existing cryptocurrencies is currently only 53%.
BTC/USD April 14, 2021.
Ethereum (ETH) has seized some of that dominance, as Ether crypto assets change hands at $2,380 apiece. This means that ETH now accounts for 12.3% of total market capitalization. ETH is up 7% today and 21% this week. ETH is backed by a Finance (NBB) coin that sells for $572 each. BNB is up 1.9% today and 52% last week. XRP has managed to displace Tether (USDT) from the fourth position, as it is currently trading at $1.82 per unit.
Dogecoin (DOGE) price has risen significantly in the past 24 hours.
Cardano (ADA) is trading at $1.46 per coin, Polka Dot (DOT) at $42 and Litecoin (LTC) at around $272 per coin. Uniswap (UNI) is currently trading at $35 apiece, up 1.3%. Dogecoin (DOGE), which trades at $0.141, ranks 10th in the market, up 86% on Wednesday. DOGE has pioneered 24-hour returns and is one of the top ten crypto assets.
#Bitcoin is now the sixth largest currency in the world, surpassing the British pound in terms of monetary base pic.twitter.com/rlX9JWhMn6
– Bitcoin documenting (@DocumenterBTC) April 14, 2021
Bitcoin expands itsoffering
Right before Coinbase’s direct listing and after BTC hit the new ATH, many crypto investors and executives are very positive. Bitcoin is constantly coming out of its niche, that’s no secret, Eric Demuth, co-director and founder of Bitpanda, told Bitcoin.com News. Whether it’s more media attention or the launch of bitcoin exchange infrastructure by big banks like JPM or Goldman Sachs. The milestone was probably the first investment by S&P 500 companies.
Mr Demuth added:
Today, bitcoin is expanding its retail customer base and becoming an increasingly important investment target for corporations and pension funds. The record rally in recent weeks has been fueled in part by institutional investors entering the market. And yet, opinions seem to have polarized, leaving only two extreme positions on the subject: those who see this cryptocurrency as a grail, and those who still label it as a purely speculative asset and try to devalue bitcoin with outdated and false myths.
Panther Capital predicted bitcoin’s current price range last year
Moreover, many others are very bullish on the market movement and the latest ATH BTC. Dan Morehead, CEO of Pantera Capital, said his company had anticipated these prices.
Panther Capital predictions last year in the company’s April 2020 investor letter.
This is getting ridiculous. A year ago, we predicted bitcoin would hit $62,968 this week. I just did. This bitcoin rally is EXACTLY the same as the previous stock rally. In August, it will likely be $115,000, Morehead tweeted. The company also released an April 2020 letter to investors outlining the company’s prospects.
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