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Crypto Market Value Climbs Back Above $2 Tn
Mint Mumbai
|February 16, 2024
Bitcoin hovered around $52,000 after a broad cryptocurrency rally that saw Ether, the second-biggest token, advance back to where it was before the TerraUSD stablecoin collapsed almost two years ago.
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Bitcoin's 22% year-to-date gain has helped to lift the market capitalization of digital assets above $2 trillion for the first time since April 2022, data from CoinGecko show.
Bitcoin and Ether were up more than 1% at one point on Thursday in Singapore Sector-specific factors have been supporting Bitcoin, itcoin hovered around $52,000 after a broad including the debut of US exchange-traded funds dedicated to the token. The batch of products from the likes of BlackRock Inc. and Fidelity Investments have attracted a net $3.9 billion since they began trading on 11 January.
This story is from the February 16, 2024 edition of Mint Mumbai.
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