New Milestone as Crypto Market Blows Past $3 Trillion

The crypto markets celebrated a momentous occasion this past Monday as the overall market cap of cryptocurrency topped $3 trillion following major gains in key cryptocurrencies over the past couple of months. To put this in perspective, one year ago the global crypto market cap stood at $577 billion. Translation: the market has experienced 5x growth in roughly 12 months.

All this comes as cryptocurrencies and digital assets make their way further into the mainstream, managing to nab spots on stock exchanges and even into the portfolios of the most traditional of financial institutions. Most recently, global payments provider Mastercard announced a partnership with crypto firm Bakkt Holdings that is primed to greatly lower the barrier of entry into the world of crypto by allowing banks to provide crypto services on their platforms. JP Morgan has also jumped on the crypto wagon by offering crypto access to their wealthy clients, and Twitter has made waves by setting up a crypto team to explore decentralized apps. Just last week, Australia’s largest bank CBA announced that they were allowing customers to buy, sell, and hold crypto assets on their application.

While many feel the current crypto rally is largely fueled by inflation woes in the US, individual and institutional investor confidence in returns associated with the overall stock market in the past year have surely led to the expediting of endeavors into the crypto space.

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