Cryptomarket growth

PECULIARITIES OF THE CRYPTOCURRENCY MARKET AND ITS EXPLOSIVE DEVELOPMENT

Since the beginning of 2021, the cryptocurrency market has shown progressive growth. In early November this year, the peak capitalization of the entire cryptocurrency market, according to CoinMarketCap, reached $3 trillion. For comparison, at the end of 2020, the capitalization of the cryptocurrency market did not exceed $750 billion. The total value of cryptocurrencies in the moment overtook one of the most expensive companies led by Ilon Musk, Tesla ($1.13 trillion), but was equal to Apple ($2.72 trillion).

The volume of Bitcoin is about $1 trillion, the daily trading volume in BTC is more than $30 billion. At the beginning of November, the price of bitcoin reached more than $69,000, but at the moment, it is traded in the ~$48,000 - $49,000 range. For comparison, in March 2020, the price of BTC was only $3,800!

Despite excessively high volatility, the pace of development of the cryptocurrency sector and blockchain projects under development based on digital assets is not slowing down. On the contrary, every day more people are interested in modern technologies, solutions and benefits that the industry provides to improve the quality of people's lives.