Cryptocurrency Market Cap Crosses $1 Trillion As Bitcoin Soars Above $40,000

  • January 08, 2021 09:31 PM AEDT
  • Kunal Sawhney
    Kunal Sawhney
    CEO Kunal Sawhney
    2782 Posts

    Kunal Sawhney is founder & CEO at Kalkine and is a richly experienced and accomplished financial professional with a wealth of knowledge in the Australian Equities Market. Kunal obtained a Master of Business Administration degree from University of T...

Cryptocurrency Market Cap Crosses $1 Trillion As Bitcoin Soars Above $40,000


  • The global crypto market topped US$ 1 in market value on January 7, guided by the BTC performance.
  • Bitcoin surpassed the US$ 40000 milestone for the first time on Thursday, led by the JPMorgan analysts report.
  • The current market caps of the top two digital coins, BTC and Ether, are US$ 718.9 million and US$ 136.36 billion, respectively.


Blockchain-based cryptocurrencies are rallying on Wall Street as investors display confidence over Bitcoin as a sustainable asset. The world’s most prominent cryptocurrency soared over a record US$ 40,000 on Thursday, doubling in value in less than a month. The virtual token zoomed over 11 per cent to US$ 40,394 on January 7.

The global cryptocurrency market has now crossed a market value of more than US$ 1.02 trillion, driven by the giant crypto-token, bitcoin.

Bitcoin’s current market cap stands at approximately US$ 718.9 million, with a current price per BTC of US$ 38,662.

Meanwhile, Ethereum also maintained its gaining spree and surged 1.26 per cent to US$ 1227 a coin. Its current market stands at US$ 136.36 billion.  


Bitcoin: Bubble Or Growth?


Bitcoin has quadrupled over the past one year. According to JPMorgan, so-called ‘digital gold’ could better US$ 146,000. The giant investor also estimates that in the long run bitcoin can compete with gold to achieve sustainable growth. However, the digital token is witnessing huge volatility as investors are yet to consider it a long-term investment option.

The virtual currency's price tumbled in early 2018, and by the end of that year, bitcoin was trading at US$ 4,000 per token. After that plunge, the digital coin was surrounded by volatility and uncertainty.

@Kalkine Image 2020

Cryptocurrencies & Mainstream Investors

However, there’s seems to be a change in the perception of cryptocurrencies.

Many technology companies and digital banking systems are incorporating blockchain technology that runs cryptocurrencies like Bitcoin, Ethereum, Litecoin.

Year 2020’s unprecedented crypto rally, which has now spiraled into 2021, is driven by more mainstream and institutional investors. The largest crypto coin by market value, Bitcoin, started getting popular among bull investors last year. And these investors are putting their money in Bitcoin to hedge against inflation, and few of them are comparing it with gold.


The website is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK