Cryptocurrency capitalization reached $1,000,000,000,000

Recently, all cryptocurrency assets were able to reach a total capitalization of $1,000,000,000,000. This happened due to the release of the digital asset market from the doldrums. Institutions have poured large amounts of funding into several leading assets, including bitcoin, which has allowed the market to reach the coveted mark for the first time since November.

The first day of the year showed that the crypto market has over $830,000,000,000. At that time, everything looked rather sad for the cryptocurrency industry and many people expected the breaking of the day, but the last week showed that everything can develop in a more positive way.

Altcoins followed the movement of the flagship digital asset and thus also managed to attract a lot of funds. Solana showed the biggest breakthrough among all altcoins. She added 70% to her value in the last week, going from $13.30 to $22.70.

The coin was able to recover after the crash of FTX. After this incident, SOL suffered particularly strong market fluctuations, as the former head of the American cryptocurrency exchange, Sam Bankman-Freed, held many Solana tokens. At some point, this altcoin even fell below the $8 mark, but a blockchain with a lot of advantages could not fall so easily and now it has recovered to some extent. However, the coin is still far from the maximum of $250, which was reached on November 8, 2021.

Experts in the cryptocurrency world expect Solana to start its pullback in the near future and the fall could stop at $14. This will be a great opportunity for large investors to start accumulating SOL.

Another coin that contributed to the development of the cryptocurrency market and a significant increase in the total capitalization was Avalanche. AVAX is up 40% in the last week. On January 8, the cost of one Avalanche was $11.70, while now the token is valued at $16.40.

Speaking of altcoins, not a single such conversation is left without mentioning Ethereum, which deserves the status of the main alternative cryptocurrency. The last week has been quite spectacular for ETH. If BTC has added 22.25% in value over the past 7 days, then Ethereum is slightly behind and has a profit of 20.7%. However, the total capitalization of ETH exceeds $186,000,000,000, while that of Bitcoin almost reached $400,000,000,000.

By the way, so far the cryptocurrency market has dropped to $971,000,000,000+ in total capitalization, however, we are confident that in the coming days, cryptography will be able to cross the $1,000,000,000,000 mark again and reach a new goal.