The crypto economy has bounced above the $2 trillion mark after falling below that value in mid-January. Statistics show that all 12,440 coins across 544 crypto exchanges have a USD value of $2.08 trillion, up 5.2% during the last 24 hours.
The crypto economy moves north of the $2 trillion mark
Digital currency values have risen significantly during the past week, which, in turn, has pushed the overall value of the entire crypto-economy northwards. This means that the crypto economy returned more than $500 billion after the market catastrophe in January. As of January 24, 2022, statistics show that all crypto was valued at around $1.5 trillion. Since that day, the USD value of the crypto economy has increased by more than 36% to $2.08 trillion on February 7, 2022. While Bitcoin (BTC) dominates at 39.4%, Ethereum (ETH) has a market capitalization of 17.9% of the $2 trillion value. ,
Coins that have helped propel the value of the crypto economy northwards beyond $2 trillion include gala (GALA), quant (QNT), LEO tokens (LEO), mina (MINA), zcash (ZEC), shiba inu (SHIB). ), Near (NEAR). Ethereum Classic (ETC), Osmosis (OSMO), and Vicentraland (MANA), respectively. The aforementioned token is up anywhere between 30.3% and 95.3% against the US dollar over the past seven days.
Privacy coins worth $10.6 billion jumped 3.8% over the previous day, with the net worth of smart contract platforms ($691B) jumping 3.3% in 24 hours. The $41.8 billion Mem Coin asset jumped 11.8% during the last day as Dogecoin and Shiba Inu saw gains of between 7.1% and 24.1%. Furthermore, the total value locked (TVL) in the DeFi protocol jumped 2% during the last day, rallying above $220 billion on Monday morning. Ethereum dominated DeFi TVL by 61.17% or a total value of $134.92 billion.
NFT Sales Drop Over 7% This Week, Bitcoin Now 9th Most Valuable Asset Worldwide
While the crypto economy has grown to over $2 trillion – as many tokens have seen significant gains and TVLs increased – NFT sales have declined over the past week. Total sales were $967.5 million across the week with 1,449,578 transactions and 309,418 merchants. The weekly NFT sales metric is down 7.83% compared to last week’s NFT sales, and sales on Ethereum are down 9.15%. However, Blockchain, the third and second largest by NFT sales, is up this week, as Solana NFT sales increase by 5.69% and Avalanche NFT sales by 36.34%.
With the crypto economy well above the $2 trillion mark, the value exceeds most of today’s market valuations. The USD value of all 12,440 coins would be just above the fourth most valuable global asset, Saudi Aramco (Tadawul: 2222) with a market capitalization of $1.973 trillion. However, the market cap of the crypto economy is below the market cap of gold ($11.544T), Apple ($2.813T), and Microsoft ($2.293T). The market cap of Bitcoin (BTC) is today the ninth most valuable asset in terms of total valuation with a market cap of $821.01 billion.
What do you think about the crypto economy moving past the $2 trillion mark? What do you think about bitcoin being among the top ten most valuable assets in the world? Let us know what you think about this topic in the comment section below.
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