With Ethereum surpassing the $3,900 mark, according to data from 8MarketCap, Ethereum’s market value soared to $476.39 billion, making it the 20th largest asset in the world, surpassing SPDR S&P 500 ETF Trust’s $473.51 billion, and only slightly lower than Walmart, which is ranked 19th, by less than $7 billion.
After experiencing a market downturn on March 7th, both Bitcoin and Ethereum saw significant recoveries yesterday (March 8th). At the time of writing, Bitcoin was trading at $68,372, with a 24-hour increase of 2.1%, while Ethereum was trading at $3,975, with a 24-hour increase of 4.75%.
Ethereum jumps to the 20th largest asset globally, while Bitcoin ranks 9th. With Ethereum surpassing the $3,900 mark, data from 8MarketCap shows that Ethereum’s market value reached $476.39 billion, making it the 20th largest asset globally, surpassing SPDR S&P 500 ETF Trust’s $473.51 billion, and only slightly lower than Walmart, which is ranked 19th, by less than $7 billion.
Additionally, as Bitcoin reclaimed the $68,000 mark, it now ranks as the 9th largest asset globally, with a total market value of $1.335 trillion, surpassing Meta Platforms, owned by Zuckerberg, by only $50 billion lower than the market value of silver.
CEX daily trading volume approaches £100 billion for the first time since 2021. According to a report from The Block on March 8th, following the approval of the Bitcoin spot ETF by the U.S. SEC on January 11th, the daily trading volume of cryptocurrencies on centralized exchanges (CEX) reached $97.4 billion as of March 6th, approaching $100 billion for the first time in 2021.
It is worth noting that this data was only $24 billion in early February, indicating that the crypto bear market seems to be gradually fading away as the bull market approaches.
Related reading: Bitcoin vs Real Estate: Which is a Better Hedge in Times of Economic Turmoil?
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