The value of cryptocurrencies exceeds 2 trillion

The cryptocurrency rush continues unstoppable and the value of the cryptomarket exceeds 2 trillion dollars for the first time. In 2021, bitcoin and Ether saw huge rallies. In detail, Ether hit an all-time high of $ 2,151.25 according to CoinDesk, up more than 180% year on year. Ethereum is considered a key platform for so-called decentralized finance applications (DeFi) and non-fungible tokens, or NFTs. Bitcoin, the largest digital currency, accounts for over 50% of the entire market capitalization of digital currencies. Bitcoin has jumped more than 100% this year alone, and this has helped push the cryptocurrency market higher. Bitcoin and Ether compared But the latest push in the cryptocurrency market appears to have been led by ether, the coin. digital that powers the Ethereum blockchain. Bitcoin runs on a technology called blockchain but the Ethereum blockchain is more like a software platform that allows developers to build applications on it. Users can then spend ether on these applications.There is growing enthusiasm for using Ethereum in so-called decentralized finance applications, or DeFi, blockchain-based financial services, such as lending, which could theoretically bypass banks and brokerage agencies. Ether is also catalyzing the interest of companies. Chinese app maker Meitu bought $ 22.1 million worth of Ether last month, making it one of the first major companies to do so. But Bitcoin still remains central to the cryptocurrency market, and in recent months, it has seen a large surge of interest among companies and large institutional investors. Tesla and Square are among those companies that have bought bitcoin, but in the meantime, major banks have investments are exploring ways to enable clients to get involved in investing in digital assets.