Over the last 24 hours, the total market cap of all cryptocurrencies has risen to above $185 billion. This is the highest level since November 18th, 2018, according to numbers from Coinmarketcap.
Since then, the market cap has declined somewhat, but looking at how the crypto markets have performed since the beginning of February, we see that there has been a steady rise.
The graph below also shows how the trading volumes have increased over the last two months.
One contributing factor to the upturn is that bitcoin and ethereum have increased significantly during the last 24 hours. Bitcoin’s market cap has increased by $3 billion and ethereum by $1.7 billion.
But above all, the altcoin markets have increased significantly since April 1st. For example, the market cap of tron has increased by more than $350 million and stellar has increased by $400 million, according to Coindesk.
“Everyone is waiting for the next bull run to start after the markets have declined for a long time, while the fear of missing out on future gains is tangible. Many see a greater potential percentage-wise in altcoins. At the same time, the risk is higher”, says Benjamin Dahl, an advisor within blockchain and cryptocurrencies, to Trijo News.
