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Cryptocurrency market cap surged to a record high

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Miguel A. Rodriguez
Miguel A. Rodriguez
06 April 2021
A new record for the cryptocurrency market at the beginning of the week

According to data from CoinGecko and Blockfolio, the cryptos market cap hit an all-time high of $2 trillion, as gains over the past several months attracted demand from institutional and retail investors.

The show's star was Bitcoin, which broke its record as it hit a $1.1 trillion market cap. Moreover, Ethereum reached a market cap of $244 billion and hit a record high of $2,144.99 on Friday.

Also, the surge was due to the cryptos acceptance as a payment method, with companies like Tesla and BNY Mellon paving the way. Since the beginning of the year, Bitcoin went up more than 100%, while Ethereum has gained almost 190%.

And with central banks such as Morgan Stanley and Goldman Sachs, the crypto market could be something worth keeping a very close eye on.

Sources: reuters.com, cnbc.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.