Crypto Market Cap Surpasses $1 Trillion as Bitcoin and Ethereum Surge

The total market capitalization of all cryptocurrencies has surpassed $1 trillion, according to data from CoinMarketCap. This marks a return to this significant threshold after a month-long absence, and comes on the heels of Bitcoin's break through $22,000.

BTC had been struggling with resistance at $20,000 in recent weeks, but bulls have gained momentum since avoiding a sustained fall below that level. The current market capitalization stands at $1,016,006,321,043.

Ethereum (ETH) is the top performer on a seven-day timeframe, surging by 28.65% to put it within striking distance of $1,500. Other altcoins are also experiencing a modest recovery, with Polygon notable for its 17% gain in 24 hours and 60% increase over the past week.