$700 Billion: Crypto Market Hits New Milestone as Bitcoin Price Recovers to $15,000
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The cryptocurrency market cap hit a new all-time high above $700 billion on Wednesday, bolstered by strong performances from the bitcoin price and a variety of altcoins.
Cryptocurrency Market Cap Hits $700 Billion
The cryptocurrency market cap began the day below $650 billion but rose $64 billion — or 10 percent — during the ensuing 24 hours to reach a new high-water mark of just under $709 billion. Following a minor decline, the sum total of all cryptocurrency valuations is now $702 billion.
The march past $700 billion was spurred by a rally in the bitcoin price, which rose as high as $15,428 on cryptocurrency exchange Bitfinex. At the time of writing, bitcoin was trading at $14,932 on Bitfinex, while the global average bitcoin price was $15,093. This represents a single-day increase of eight percent and provides bitcoin with a $253.2 billion market cap.
