Bitcoin Market Cap Set to Surpass Silver; USDT Touches $100B Market Cap; Bitcoin NFT Sells for $1M

Written by BTSE

March 5, 2024

In the latest day of an electrifying week for the crypto market, large market cap cryptos are witnessing unparalleled momentum, with Bitcoin (BTC) now trading at $68.7K and moving tantalizingly close to its all-time high, with an almost 7% uptick in the last 24 hours. Ethereum (ETH) follows suit with a commendable 6% increase, positioning itself at $3.7K. Amidst these giants, Dogecoin (DOGE) emerges as an unexpected protagonist, boasting a 24% surge and currently priced at $0.19, propelled by significant accumulations by crypto whales. This remarkable rally underscores a burgeoning investor enthusiasm, potentially setting the stage for a new era in the crypto landscape.


Bitcoin Nears Silver Market Cap; Ether (ETH) Hits New 2-Year High Amid DOGE, SHIB Rally: In a breathtaking display of market dynamics, Bitcoin (BTC) not only topped $68,000, flirting with its November 2021 peak of around $69,000, but also neared the market capitalization of silver, standing at nearly $1.4 trillion. This surge has highlighted Bitcoin’s stature as a formidable global asset. This enthusiasm has been fueled by the frenzy around spot Bitcoin ETFs, with BlackRock’s iShares Bitcoin Trust (IBIT) experiencing another day of vigorous trading. This rally, coupled with significant inflows into Bitcoin and Ethereum-focused funds, begs the question: Are we on the brink of witnessing Bitcoin hit new all-time highs, and how might this reshape investor sentiment across the crypto market?

Tether’s USDT Stablecoin Touches $100B Market Cap, Benefiting from Crypto Trading Frenzy: Tether’s USDT has hit a historic milestone, briefly reaching a $100 billion market capitalization for the first time, spurred by the surging demand for liquidity in crypto trading. This growth reflects the pivotal role of USDT as a bridge between traditional finance and the burgeoning world of digital assets, offering a stable medium for trading, lending, and savings, especially in regions with limited access to traditional banking. As USDT solidifies its position as the premier stablecoin amidst a broader crypto rally, it draws attention to the evolving landscape of digital finance and the increasing integration of stablecoins in market operations. How might USDT’s milestone influence the trajectory of stablecoins and their role in the global financial ecosystem?

Bitcoin NFT NodeMonkes Sells for $1M as BTC Inches Toward $69K: The Bitcoin NFT scene has exploded with activity, as the NodeMonkes collection becomes the most traded in the past 24 hours, signaling a surge in demand for Bitcoin-based digital assets. With sales volumes crossing over $11 million and individual pieces fetching upwards of $1 million, the collection has set a new benchmark for the NFT market. This phenomenon not only underscores the growing appetite for Bitcoin NFTs but also highlights the unique value propositions and exclusivity associated with early collections inscribed on the Bitcoin blockchain. As the market for Bitcoin NFTs heats up, one wonders: Could hype surrounding Bitcoin NFTs be one of the underlying factors for Bitcoin’s recent unstoppable performance?


Related Articles

Stay Informed with BTSE

Join Our Newsletter

Never miss a beat with the latest updates and industry insights from BTSE.

Follow Us

Join our rapidly growing community and exclusive events!