It has been over a month since the cryptocurrency industry has started making a comeback in terms of its overall market valuation. If we go back by a month, we would see that the market capitalization of the entire cryptocurrency industry was around $1.5 trillion.
However, in the past month, over $500 billion have been added to the market capitalization of the overall cryptocurrency. This figure is not something that has been injected into the industry from the outside. Instead, the rise in the valuation is due to the rise in individual prices and the valuation of digital assets.
Since April of 2021, Bitcoin had been underperforming and its valuation had gotten close to $400 billion after it had hit a valuation of $1.4 trillion in the first half of April.
However, the cryptocurrency industry started regaining its investors’ trust and sentiments. This led the cryptocurrency industry to experience an uptrend and a significant rise in prices and valuations were witnessed throughout the crypto-verse.
At the time of writing, the overall market valuation of the cryptocurrency sector has crossed the $2 trillion mark for the second time and it is hovering around $2.06 trillion.
Although the overall valuation is still not at its all-time high, yet it is a relief to know that it is back in the $2 trillion leagues. It is hoped that the cryptocurrency industry will not experience a drop below $2 trillion after the recent fall.
As always, the top cryptocurrency with the highest price and valuation is Bitcoin, standing at $45,205.63 per BTC and $851.62 billion market valuation.
The second top cryptocurrency is Ether (ETH) with a price standing at $3,287.05 per ETH and a $386.77 billion market valuation.
The third top cryptocurrency is Cardano (ADA) with a price standing at $2.39 per ADA and a $76.29 billion market valuation.
The fourth top cryptocurrency is Binance Coin (BNB) with a price standing at $399.16 per BNB and a $67.21 billion market valuation.
The fifth top cryptocurrency is XRP (XRP) with a price standing at $1.07 per XRP and a $49.84 billion market valuation.
The sixth top cryptocurrency is Solana (SOL) with a price standing at $164.52 per SOL and a $49.35 billion market valuation.
The seventh top cryptocurrency is Polkadot (DOT) with a price standing at $36.09 per DOT and a $35.39 billion market valuation.
The eighth top cryptocurrency is Dogecoin (DOGE) with a price standing at $0.2361 per DOGE and a $30.99 billion market valuation.
The ninth top cryptocurrency is Terra (LUNA) with a price standing at $36.75 per LUNA and a $14.76 billion market valuation.
The tenth top cryptocurrency is Uniswap (UNI) with a price standing at $22.70 per UNI and a $13.88 billion market valuation.