Bitcoin, Ethereum Break Total Crypto Monthly Record

Bitcoin is back well above $50,000 and Ethereum is now over $3,000 per token. The two top crypto titans have been in full bull mode for the better part of a year now, and it has helped propel the entire crypto market cap to unprecedented heights.
Now at well over $2 trillion and counting, this most recent monthly close in the total crypto market cap marked a historic seven consecutive green monthly candles in a row. Here’s a closer look at what the long string of success could mean for the market in the days ahead.
Crypto Reaches Mass Acceptance, More Than $2 Trillion Market Cap
Sentiment changes quickly in speculative assets like crypto. It was only around two years ago that executives were calling Ethereum a double-digit “shitcoin,” and major media outlets pronounced Bitcoin dead yet again (and again).
Today, the story is very different. Nearly every powerhouse in finance is now taking a “if you can’t beat ’em, join ’em” stance with crypto and are offering exposure to Bitcoin, Ethereum, Litecoin, and others in some way.
Related Reading | Bitcoin Dominance Dives To Lowest In Years, Altcoin Season Is Finally Here
Few assets aside from Dogecoin and the rare moonshot have done as well as top assets Bitcoin and Ethereum, which have soaked up most of the limelight this cycle.
Their sheer size alone is what has pushed the total crypto market cap to more than $2 trillion and climbing. And they’ve now helped the total crypto market close a record-breaking seven monthly candles in a row – the most ever.

A new record is set for longest string of green monthly candles | Source: CRYPTOCAP-TOTAL on TradingView.com
Massive Bitcoin And Ethereum Rallies Help To Break Historic Monthly Record
Layered behind the price action of the total crypto market cap the impact of both Bitcoin and Ethereum can be seen. The two combined with other altcoins like Cardano, Dogecoin, and more have made the new record of seven green monthly candles in a row possible.
Bitcoin’s enormous $1 trillion market cap alone has been the biggest contributor overall, while Ethereum clearly has some catching up to do even with a long history of over-performance compared to BTC.
Related Reading | “Exponential Decay” Of The Dollar To Benefit Crypto Long-Term
All eyes have been on Ethereum as of late to take center stage and kick off an unprecedented “alt season.” The ratio between BTC and ETH is nowhere near former highs from the last bull market, even though both have since surpassed USD highs from back then.
What this all suggests is that altcoins could take lead with the total percentage of crypto market cap they capture compared to Bitcoin. Whether this is a result of future over-performance, or a correction in Bitcoin remains to be seen.
Featured image from Deposit Photos, Charts from TradingView.com

Avatar

Related Articles

- Advertisement -

Latest Articles

bitcoin
Bitcoin (BTC) $ 17,006.38
ethereum
Ethereum (ETH) $ 1,274.84
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 292.52
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.398979
dogecoin
Dogecoin (DOGE) $ 0.102963
cardano
Cardano (ADA) $ 0.316498
matic-network
Polygon (MATIC) $ 0.928308
polkadot
Polkadot (DOT) $ 5.39
staked-ether
Lido Staked Ether (STETH) $ 1,260.34
litecoin
Litecoin (LTC) $ 77.52
okb
OKB (OKB) $ 22.08
shiba-inu
Shiba Inu (SHIB) $ 0.000009
dai
Dai (DAI) $ 1.00
tron
TRON (TRX) $ 0.054660
solana
Solana (SOL) $ 13.62
uniswap
Uniswap (UNI) $ 5.85
avalanche-2
Avalanche (AVAX) $ 13.05
chainlink
Chainlink (LINK) $ 7.66
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,987.49
leo-token
LEO Token (LEO) $ 3.88
cosmos
Cosmos Hub (ATOM) $ 10.30
ethereum-classic
Ethereum Classic (ETC) $ 19.98
the-open-network
The Open Network (TON) $ 1.79
monero
Monero (XMR) $ 142.72
stellar
Stellar (XLM) $ 0.088788
bitcoin-cash
Bitcoin Cash (BCH) $ 110.75
quant-network
Quant (QNT) $ 123.24
algorand
Algorand (ALGO) $ 0.242746
crypto-com-chain
Cronos (CRO) $ 0.065231
filecoin
Filecoin (FIL) $ 4.42
near
NEAR Protocol (NEAR) $ 1.72
apecoin
ApeCoin (APE) $ 3.92
vechain
VeChain (VET) $ 0.019187
hedera-hashgraph
Hedera (HBAR) $ 0.050012
flow
Flow (FLOW) $ 1.12
internet-computer
Internet Computer (ICP) $ 4.16
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.58
frax
Frax (FRAX) $ 1.00
eos
EOS (EOS) $ 0.934112
terra-luna
Terra Luna Classic (LUNC) $ 0.000162
chain-2
Chain (XCN) $ 0.043876
theta-token
Theta Network (THETA) $ 0.939595
tezos
Tezos (XTZ) $ 1.01
the-sandbox
The Sandbox (SAND) $ 0.587318
aave
Aave (AAVE) $ 63.87
lido-dao
Lido DAO (LDO) $ 1.11
chiliz
Chiliz (CHZ) $ 0.162818