The total value of the cryptocurrency market, with a record-breaking bitcoin and a near-record ether, brought its total value to over $2.7 trillion.
Accompanying an exchange-traded fund (ETF) that started trading in the US, bitcoin gained nearly 15% in seven days. $67,000 reached and renewed the record set in April. The second of the market, ether (ETH), is on Thursday. Going over $4,200 He has reached the range where he can beat his own record in one move.
According to CoinGecko data, the total value of the cryptocurrency market reached a record level in May. With more than $100 billion difference It has exceeded $2.75 trillion.
Cryptocurrency industry becomes part of the “mainstream”
Ed Moya, senior market analyst at OANDA, said in his report on Wednesday. “exceeding regulatory fears and ESG concerns” and right now closer to $100,000 than it is to $30,000 with bitcoin’s momentum It could move to the $75,000 region. explained.
As resistance point after SEC gives green light to bitcoin ETFs $100,000 Pointing out, Bloomberg Intelligence analyst Mike McGlone said that the entire cryptocurrency industry “beginning to become part of the mainstream” and it’s for other coins too bullish consequences explained.
“The average investor will not want to settle for bitcoin alone. It will want a comprehensive index like the S&P500. I expect to see ETFs that follow Ethereum first, then based on physical bitcoin, followed by a (cryptocurrency) index.”
Investment firm QCP Capital said that the possibility of establishing an exchange-traded fund for ETH as well, and Ethereum 2.0 on the horizon update, investors’ long-term “shifts focus from BTC to ETH” stated that it might.
The firm analyzed this week from Telegram. especially those $15,000 dated March 2022 ETH buying options, including “big demand” detected the display.
The total value of the cryptocurrency market, as a result of the decline that started after the records set in April up to less than $1.3 trillion had regressed.
FSInsight reported on Wednesday that bitcoin’s next targets are set as the trend changes. $72,500 and $89,000 may be; ETH, SOL, DOT, XTZ and BNB He also stated that volatility can be seen in altcoins such as