Crypto Market Cap Reaches $3T as ETH Price Hits ATH

crypto market reaches $3 trillion market cap
  • The total crypto market capitalization has reached $3 trillion.
  • Ethereum price set another all-time high.
  • Other coins like Bitcoin and XRP make high leaps.

For the first time, the cryptocurrency space’s total combined market capitalization has hit the $3 trillion territory, according to CoinGecko. Almost all top ten cryptocurrencies are trading in green, which would definitely make many crypto traders and investors happy.

Source : Coingecko

However, the star of the show is Ethereum, which reached another all-time high (ATH) price of $4,782.42, according to CoinGecko.

ETH/USDT 1-day chart (source: TradingView)

As seen on the chart above, Ethereum price has been climbing for weeks. This is an impressive performance as many investors and traders are continuing to sustain the momentum.

For new traders and investors, this may not be the best time to buy since Ethereum may dump soon. The coin is currently in the overbought state, and should a significant number of sellers decide to take profit, the market might suffer. The amount of buying pressure is decreasing, according to Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). 

At the time of writing, Ethereum price is at $4,737.22, according to CoinGecko.

In another news, Binance Coin, Solana, XRP, and Polkadot are showing impressive 7-day performances. Binance Coin is flirting with its ATH of over $680, while XRP has yet to reach its ATH from 2018.

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