look news india
Mumbai: Bitcoin has overtaken silver to become the eighth largest asset in terms of market cap with $1.75 trillion. Bitcoin’s market cap has seen a jump of 9 percent in the last 24 hours and 32 percent in a week. On Tuesday, Bitcoin reached near the level of $ 90,000.
The market capitalization of silver is $1.72 trillion. According to the data, apart from silver, Bitcoin’s market cap has overtaken the market cap of Meta platform ($1.47 trillion) and Tesla ($1.12 trillion).
Gold ranks first with a market cap of $17.60 trillion, while Nvidia, Apple, Microsoft and Google round out the top five.
Favoring Cryptocurrencies Following Donald Trump’s victory in the US presidential election, there has been a surge in cryptocurrencies led by Bitcoin. The total market cap of cryptocurrencies also increased to $3.10 trillion for the first time.
Behind Bitcoin, other cryptos Ethereum, Solana, BNB, Dogecoin etc. have also seen a surge. Dogecoin has seen the biggest increase of 45 percent compared to other cryptos in the last seven days. Market sources said that the trend of Dogecoin is increasing due to the support of Elon Musk.
Over the past twenty-four hours, Bitcoin fluctuated between a low of $81,255 and a high of $89,995, reaching $89,205 by late evening.
The crypto market is seeing a boom as the possibility of pro-crypto regulations increases in the US. In his pre-election speeches, Trump promised to introduce pro-crypto regulations.