Ethereum News Today: Crypto Market Cap Hits $3.85 Trillion, Up 0.85%

The cryptocurrency market has achieved a significant milestone, driven by a surge in market activity. This upswing reflects an increased demand for top crypto-assets, with the market cap reaching an all-time high of $3.8 trillion. This marks a substantial recovery from the previous weeks, indicating a bullish reawakening in the crypto space.

According to data, the total market cap at the time of the report was $3.85 trillion, showing a 0.85% increase from its recently attained all-time high. This surge in market cap is accompanied by a significant increase in the broader cryptocurrency market, with leading assets securing notable daily and weekly profits.

The top three most valuable cryptocurrencies by market cap—Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)—have amassed the most gains over the last 30 days. With a combined market capitalization exceeding $2.5 trillion, these three cryptocurrencies are leading the market’s recovery. Bitcoin hit a new record high of $123,000 during the week, gaining 8.19% in price value over the last seven days, making it the third-highest gainer at the time.

Ethereum has also shown strong performance, crossing the $3,000 mark and sustaining momentum for the first time since February. Ethereum is up by 17.57% over the past week, sitting comfortably above $3,400 at the time of the report. Ripple (XRP) successfully reclaimed the third spot after its market cap value crossed the $171 billion mark, emerging as the highest gainer from the top five category with 7-day gains totaling 26.93%, resulting in a price value of $3.34 at the time of the report.

This bullish reawakening in the crypto market is a testament to the growing interest and investment in digital assets. The surge in market cap and the strong performance of leading cryptocurrencies indicate a positive outlook for the crypto market, with investors showing confidence in the long-term potential of these assets. The recovery extends into July, suggesting that the bullish trend may continue in the coming months.