Global cryptocurrency market hits all-time high of $2 trillion mark

Bitcoin has gone above the $46,000 mark (more than around Rs 34 lakh per coin) yet again. The most popular cryptocurrency has been trading in the green with a market cap of more than $848 billion, as per the CoinMarketCap data.

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Just after the global cryptocurrency market hit the $2 trillion mark for the first time in three months. The industry players on Friday said, “The surge in the market cap indicates a wider acceptance of crypto assets across the globe, including in India.”

Bitcoin has gone above the $46,000 mark (more than around Rs 34 lakh per coin) yet again. The most popular cryptocurrency has been trading in the green with a market cap of more than $848 billion, as per the CoinMarketCap data.

“The world’s oldest cryptocurrency, Bitcoin has witnessed a fantastic rally recently and the latest Ethereum upgrade, also known as London Hard Fork, has boosted the Ether price,” added Shivam Thakral, CEO, BuyUcoin.

Crypto assets are on the verge of coming to the mainstream with many other brands globally accepting cryptocurrency in transactions.

“The current bull run is expected to continue, and we are highly optimistic that Bitcoin will hit the $100,000 mark by the end of this year,” Thakral added in a statement.

In India, Cryptocurrency exchange WazirX has received a whopping 2,648 per cent surge in user signups from tier 2 and 3 cities over the country, with higher participation from small-town women against their urban counterparts.

The cryptocurrency exchange has currently accounted for 7.3 million active users and has witnessed over $21.8 billion in trading volume to date.

“Crypto has immense potential to remove the financial barriers for rural India, and provide cheaper access to capital, more online jobs,” Nischal Shetty, CEO, WazirX said.

Source Business Standard