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Cryptocurrency Market Tops $2T for First Time Since May
Bitcoin is joined by ether and cardano, which have surged 11% and 53% in the last seven days respectively.
Updated Sep 14, 2021, 1:40 p.m. Published Aug 16, 2021, 8:26 a.m.
The crypto market cap surpassed $2 trillion for the first time since mid-May as bitcoin led the rally, according to CoinMarketCap data.
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- Bitcoin climbed up to $48,048 early Monday, the highest level since May 17, CoinDesk data shows.
- The world's largest cryptocurrency by market cap is joined by ether and cardano, which have surged 11% and 53% in the last seven days respectively.
- The crypto market cap sank as low as $1.19 trillion on July 20, according to data from CoinMarketCap, meaning the sector has almost doubled in value in less than a month.
- After a touching a peak of more than $2.5 trillion on May 12, crypto pulled back and saw a couple of months of downward pressure as the mining crackdown in China took hold.
Read more: Ether Holds Long-Term Support Ahead of All-Time High
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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