In the global crypto space, market cap as of September 4, 2021 has edged higher by 0.63 percent to $2.27 trillion. Also, the market volume in the cryptocurrency market has gone for a toss by 3.24% i.e. has reached $131.84 billion.
Now here are some of the developments in the space:
1. Bitcoin price as of writing this story were at a price of $49882, with a mild correction. On a 7-day basis there has been a gain of close to 2.5%. Surge in cryptoprices and primarily in Bitcoin to levels above $50K is in line with the global stock rally. This in fact indicates the risk appetite for risky investments.
2. Ethereum i.e. the second largest crypto also scaled to levels above $4K on Friday. The crypto for the week logged massive gains of over 20 percent. The surge in the crypto that has now extended for a month is around the upgrade as well as there is now greater demand for NFTs or non-fungible tokens. There has been a supply reduction in the token owing to the London upgrade in early August.
3. In Friday's trade, Solana's SOL token gained to log a new high and replaced the meme-crypto Dogecoin to become the 7th top crypto by market capitalization. The rally in the token has been triggered ever since the crypto launched NFTs project Degenerate Ape Academy on Aug. 15, and its prices has tripled since then.