The cryptocurrency economy has reached an all-time high of $1.14 trillion after the recent jump in the prices of Bitcoin and Ethereum. The crypto market added more than $50 billion in the last 24 hours as Bitcoin jumped above $38,000. Ethereum, the world’s second-largest cryptocurrency, crossed the $1,600 level for the first time as ETH price recorded a high of $1,690. Ethereum is now up more than 30% in the last seven days, with a total market cap of more than $190 billion.
The market cap of bitcoin is hovering around $700 billion.
The recent jump in altcoins pushed has the dominance of Bitcoin to its lowest level since 9 December 2020. At the time of writing, the world’s largest cryptocurrency’s total market cap is hovering around $700 billion. The price of bitcoin is up more than 5% in the last 24 hours. Grayscale, the world’s largest cryptocurrency asset manager, accumulated 47,000 Ethereum and 12,345 Litecoin in the last 24 hours, along with 16 BTC and 337 BCH. The total value of Grayscale’s crypto assets under management jumped above $29 billion on Thursday after the recent rally in BTC and ETH.
MicroStrategy bought 295 Bitcoin worth more than $10 million in cash.
As reported earlier, MicroStrategy, one of the world’s leading business intelligence firms, announced that it had bought 295 Bitcoin worth more than $10 million in cash. The recent purchase pushed the intelligence firm’s total Bitcoin holding above 71,000. According to the official filing, the publicly-traded company bought 295 Bitcoin on 2 February. MicroStrategy now has a total of 71,079 BTC with a total worth of more than $2.5 billion. The business intelligence firm is one of the largest institutional holders of BTC.