The world’s cryptocurrency market capitalisation is currently up by $2.5 trillion and over 10,000 BTC were sold on OKEx amid the market cap surge. Despite the mix of reactions that the digital finance world is currently experiencing, today’s total market capitalisation indicates a positive future for the crypto industry.
The global market cap index has seen an upward surge of $2.5 trillion and, since the start of this year, the crypto market has risen by 233%.
The surge in crypto market cap value is the positive gesture that traders and crypto advocates around the world have been waiting to see. Additionally, the trading volumes of BTC/USDT pairs has also seen a dramatic increase with over 10,000 BTC sold today on the OKEx exchange.
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The announcement of this increase was given today by one of the on-chain analytics firm’s Wu Blockchain. Wu Blockchain cited the BTC/USDT trading volume directly from a trading view.
The announcement mentioned that they are sensing another pending 14,000 BTC sell order on the OKEx exchange. A few minutes after making this announcement, the pending order was said to have got away by the buy order that was also in BTC/USDT.
Bitcoin magazine has also tweeted that the $38 billion Grayscale trust will soon be converted into an ETF. Despite optimism around this milestone, proposals filed to approve Bitcoin’s Future Exchange-traded Fund (ETF) are yet to be accepted.
Considering how Bitcoin is dominating today’s crypto new footage, this confirms the vital role that Bitcoin plays in the crypto market. The coin reached a new high today, touching $63K and continues to dominate the market in a number of countries around the world. Bitcoin is also the first cryptocurrency to be granted legal tender status and is currently experiencing a price surge.