The price of bitcoin reaches the $ 37,000 zone, the market value of the crypto economy reaches $ 1 trillion

The price of bitcoin has surpassed the last all-time high again, jumping above the $ 37,000 zone to $ 37,400 per currency. The market valuation of the cryptographic asset was around US $ 689 billion at the time of publication, as there was US $ 26 billion in trade volume worldwide. In addition, all crypto-economics surpassed the $ 1 trillion mark on Wednesday night (EST) as well.

• Bitcoin (BTC) surpassed the $ 37,000 mark on Wednesday, surpassing the previous historical record for cryptocurrency (ATH). At approximately 7:04 pm (EST), BTC reached an ATH of around $ 37,400 per unit.
• Bitcoin is up 8.5% in the last 24 hours, 27% in the last seven days, 91% in the month and 235% in the 90-day period. The BTC has also risen more than 350% against the US dollar in the past 12 months.

• Despite the price of BTC being so high, Bitcoin’s dominance rate is slightly lower. The metric shows that bitcoin’s market dominance compared to all other existing cryptographic assets is around 68.5%, after rising above 70% for a while.
• The Bitcoin network hashrate has also skyrocketed in the past 24 hours, as miners are dedicating 162 exahash per second (EH / s) to the BTC network. There are approximately 19 mining pools with hashrate aimed at the blockchain and F2pool leads the pack.
• The pools that follow F2pool include operations like Huobi Pro, Binance Pool, Antpool and Btc.com.

• Bitcoin Depot executive Brandon Mintz told news.Bitcoin.com that the BTC shortage is driving demand. “The scarcity of BTC compared to the possibility of printing dollars is likely to attract experienced individuals looking to diversify their assets in the event of a breakdown in the traditional financial system,” said Mintz. “As the BTC adoption rate increases and the supply remains constant, the value of BTC will only continue to rise.”
• Meanwhile, as BTC crossed a new ATH, digital assets such as ETH, ADA, BCH, LINK and XLM had percentage gains between 8% to 70%. Ethereum’s market capitalization, which is hovering around $ 138 billion, is partly the reason why BTC’s dominance has dropped by a few percent.
• Currently, the total market capitalization of all more than 7,500 crypto assets is approximately $ 1,000,395,709,742 according to interchange data.

For more live crypto market action, check real-time exchange statistics at markets.Bitcoin.com.

What do you think of BTC’s last all-time high? Let us know what you think in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons, Bitcoin Wisdom, Markets.Bitcoin.com