The capitalisation of the three basic cryptocurrencies increased by 45% in the first month of 2021. In January, an all-time record was recorded in terms of their daily trading volume. Ethereum had the most impressive capitalisation increase and Tether had daily trading volume.
The digital currency market is showing growth, while the pandemic crisis continues to act as a “fuel” in the series of consecutive price records at the beginning of 2021.
The first weeks of 2021 continue down the growth road, after their spectacular performance over the past year, when cryptocurrencies were seen as a first choice during crisis. According to Finaria, the total capitalisation of Bitcoin, Ethereum and Tether – the three main cryptocurrencies – increased by 45% in one month, exceeding $735 billion in the last week of January.
In December of 2020, the capitalisation of Bitcoin, Ethereum and Tether was 511.5 billion euros, an increase of 235%, according to data from CoinMarketCap.
Bitcoin, Ethereum and Tether on the rise
Despite the growth they had already recorded, the very first weeks of 2021 added up a total of $228 billion to the capitalisation of the three main cryptocurrencies by the end of January. Statistics show that the capitalisation of the world’s largest digital currency, Bitcoin, increased by 35% in one month, reaching $565.7 billion last week. Note that Bitcoin reached $42.000 last month, while now it is moving around $38.000.
However, the cryptocurrency that had the most impressive increase in its capitalisation during the first weeks of 2021, was Ethereum. The rise in the price of the second largest cryptocurrency in the world brought its capitalisation in January to about 77 billion USD, with a jump of 111% within a month. Statistics show that last week, Ethereum’s market capitalisation stood at $145.6 billion.
As for Tether cryptocurrencies, their capitalisation increased by 27% since December, reaching $25.2 billion in the last week of January.
Apart from the spectacular rise in prices and their capitalisation, the largest cryptocurrencies internationally recorded in January and an all-time record in terms of their daily trading volume.
Reaching the top of $106.6 billion in daily trading volume on January 12, the daily trading volume on Bitcoin reached $78 billion in the last week of January, recording a monthly increase of almost 20% and annually, since January by 2020, by 168%.
CoinMarketCap data show that Ethereum hit an all-time high in its daily trading on January 4, when it recorded a daily trading volume of $59 billion, although it fell to $39.6 billion last week. It continues showing an increase of 20% in the volume of daily transactions every month, which on an annual basis records an increase of 232%.
Statistics finally show that Tether was the most popular in January trading, with daily trading volume last week at $ 108.6 billion, up 11% in a month.