Cryptocurrency Market Capitalization Experiences Surge with Bitcoin Breaking $28K


Cryptocurrency market capitalization surged on Sunday afternoon as Bitcoin (BTC) rose to an all-time high of $28,422 per unit. The leading crypto asset has increased by nearly 38% against the US Dollar since last Sunday and its market capitalization has swelled to $546 billion.

Global Cryptocurrency Market Valuation Experiences 1.11% Increase and Bitcoin Dominance Remains Above 45%

Bitcoin (BTC) was trading at $28,422 per unit at just before 3 p.m. ET on Sunday, March 19th. At the time of writing, BTC is trading just above $28,300, having meandered just below that level at $27,925. Bitcoin has gained more than 37% in the last seven days and over 3.5% in the last 24 hours.

At the time of writing, the global trade volume of all digital assets was $203 billion and bitcoin accounted for $42.9 billion of that. Bitcoin’s market capitalization is now $546 billion, and it still has some way to go to overtake Tesla’s market cap of $569.94 billion and become the tenth-largest asset.

The global cryptocurrency market valuation was $1.18 trillion on Sunday, a 1.11% increase over the past day. Notable to mention is that the second-largest crypto asset by market cap, ethereum (ETH), jumped 1.7% higher over the past day and 24.3% over the past week.

Out of the $1.18 trillion in value, bitcoin’s dominance on Sunday is 45.7%, while ethereum’s is 18.8%. Bitcoin’s top ten trading pairs on Sunday include Tether (USDT), BUSD, USD, KRW, EUR, JPY, USDC, TRY, GBP, and CHF. Additionally, in South Korea there is a small ‘Kimchi premium’, with bitcoin trading for $200 more per unit than most crypto exchanges abroad.

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What do you think of the recent surge in cryptocurrency market capitalization and its effect on the crypto market? Share your thoughts in the comments below.

Jamie Redman

Jamie Redman is the News Lead at News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about the disruptive protocols emerging today.

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