Bitcoin, Cryptocurrency

Bitcoin’s 1st Week of 2021 – Soaring to new heights

The price of Bitcoin (BTC) breached through the all-time high again, crossing above the $37k zone to $37,400 per coin. The crypto-assets market valuation is around $689 billion at the time of publication, as it has seen $26 billion in trade volume worldwide. Moreover, the entire crypto-economy surpassed the $1 trillion mark on Wednesday evening (EST).

  • Bitcoin (BTC) has soared over the $37k handle on Wednesday, surpassing the cryptocurrency’s previous all-time high (ATH). At approximately 7:04 p.m. (EST), BTC touched an ATH of around $37,400 per unit.
  • Bitcoin (BTC) is up 8.5% during the last 24 hours, 27% during the previous seven days, 91% for the month, and 235% for the 90 days. BTC is also up more than 350% against the U.S. dollar for the last 12 months.
At approximately 7:04 p.m. (EST), BTC touched an ATH of around $37,400 per unit. Currently, BTC is still rising above the $37k handle.
  • Although BTC’s price is so high, the Bitcoin dominance index is a tad lower. The metric shows bitcoin’s market dominance compared to all the other crypto assets in existence is around 68.5%, after riding high above 70% for a while.
  • The Bitcoin network hashrate has also skyrocketed during the last 24 hours as miners are dedicating 162 exahash per second (EH/s) to the BTC network. There are approximately 19 mining pools with hashrate pointed at the blockchain, and F2pool leads the pack.
  • The pools that follow F2pool include Huobi Pro, Binance Pool, Antpool, and
  • The Bitcoin Depot executive, Brandon Mintz, announced that BTC’s scarcity is driving demand. “The scarcity of BTC compared to the printability of dollars is likely to attract savvy individuals looking to diversify their assets in the event of a lapse in the traditional financial system,” Mintz said. “As the adoption rate of BTC increases and the supply remains constant, the value of BTC will only continue to rise.”
  • Meantime, as BTC crossed a new ATH, digital assets like ETH, ADA, BCH, LINK, and XLM have all seen percentage gains between 8% to 70%. Ethereum’s market cap, which is hovering around $138 billion, is partly why BTC’s dominance has dropped a few percentages.
  • Currently, the entire market cap of all 7,500+ crypto assets is approximately $1,000,395,709,742 according to exchange data.
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