Cryptocurrency market value surges to all-time high of $2 trillion

Analysts said as long as bitcoin stays above $53,000, it will be able to maintain its $1 trillion market cap

The cryptocurrency market capitalisation hit an all-time peak of $2 trillion on Monday, according to data and market trackers CoinGecko and Blockfolio, as gains over the last several months attracted demand from both institutional and retail investors.
 
By mid-afternoon, the crypto market cap was at $2.02 trillion.
 
The surge was led by bitcoin, which hit its own milestone by holding at a $1 trillion market cap for one week. Bitcoin was last up 1.4 per cent at $59,045. Since hitting a lifetime peak of more than $61,000 in mid-March, bitcoin has traded in a relatively narrow range.