Crypto market retakes US$2 trillion market cap amid bitcoin gains

Here to stay: A file picture showing various cryptocurrencies. Bitcoin has reached US$48,152, (RM204,000) – the highest level since May 16.

NEW YORK: The total market value of cryptocurrencies rose above US$2 trillion (RM8.47 trillion) again as bitcoin continued to climb and the likes of cardano, XRP and dogecoin advanced as well.

Crypto’s market value rose to US$2.06 trillion (RM8.73 trillion), according to CoinGecko, which tracks more than 8,800 coins. Bitcoin reached as high as US$48,152, (RM204,000) the highest level since May 16, as it showed staying power above its 200-day moving average.