The digital currency value has risen a lot in the past week, which has in turn pushed the total crypto-economy’s value northbound. After January’s market chaos, this means that more than $500 million has been returned to the crypto-economy. According to statistics, all cryptos were worth $1.5 billion on January 24, 2022. The crypto economy’s USD worth has risen by more than 36% to $2.08 billion since that date. bitcoin (BTC), is the dominant cryptocurrency, with 39.4%. Ethereum’s (ETH), market capitalization makes up 17.9% of $2 trillion.
Gala (GALA), quant, QNT and leo token (LEO) were some of the coins that drove the crypto economy’s northbound value past $2 trillion. In the past seven days, the above tokens have gained between 30.3% to 95.3% against the U.S. Dollar.
Privacy coins worth $10.6 billion jumped 3.8% in the last day. Meanwhile, smart contract platforms’ net value ($691B jumped 3.3% in 24hrs. The meme coin assets worth $41.8 billion jumped 11.8% in the last day, as dogecoin (and shiba Inu) saw gains of 7.1% and 24.1%. The total value locked (TVL), in defi protocols, climbed 2% over the last day and soared above 220 billion Monday morning. The total value of Ethereum’s defi TVL is $134.92 Billion, or 61.17%.
NFT Sales Fall over 7% this Week. Bitcoin is Now the 9th Most Valuable Asset worldwide
The crypto economy has grown to over $2 trillion. However, NFT sales have declined this week. The week’s total sales included 1,449 578 transactions and 309 418 traders. This equates to $967.5 millions. The weekly NFT sales are down 7.83% from last week’s NFT Sales, while Ethereum sales are down 9.15%. The third and second largest blockchains in NFT sales were up this week as Solana NFT Sales climbed 5.69%, and Avalanche NFT Sales jumped by 36.34%.
The crypto economy is valued at more than any market valuation, with its value exceeding $2 trillion. All 12,440 coins’ USD value would rank just above Saudi Aramco (Tadawul 2222), $1.973 trillion market capitalization. The crypto economy’s market capitalization is lower than those of Apple ($2.813T) and gold ($11.544T). Bitcoin’s market capital today is the ninth-most valuable asset in terms overall valuation with an $821.01 million market cap.