Leading cryptocurrencies exploded in value from the beginning of 2020 through the first half of 2021. Bitcoin ( BTC -0.25% ) and Ethereum ( ETH 1.46% ) have climbed 918% and 1,940%, respectively, over the last three years, but they have cooled off along with the stock market in recent months.
Growing interest from institutional investors and the high volume of transactions that Bitcoin and Ethereum are handling every day means these cryptos could reach new higBitcoin had a market cap of slightly over $1.2 trillion. Its market value is now $774 billion, or 42% of the value of all cryptocurrencies, so a lot of money needs to move back into Bitcoin for it to return to its previous high watermark -- and exceed it -- in order to double from its current level.
Ethereum is attractive for its growing utility value. It's a community-run blockchain that lets people without access to banks borrow money, send payments, and play games. It also supports the growing market for tokenized art collectibles, or non-fungible tokens (NFTs).
Growing interest from institutional investors and the high volume of transactions that Bitcoin and Ethereum are handling every day means these cryptos could reach new higBitcoin had a market cap of slightly over $1.2 trillion. Its market value is now $774 billion, or 42% of the value of all cryptocurrencies, so a lot of money needs to move back into Bitcoin for it to return to its previous high watermark -- and exceed it -- in order to double from its current level.
Ethereum is attractive for its growing utility value. It's a community-run blockchain that lets people without access to banks borrow money, send payments, and play games. It also supports the growing market for tokenized art collectibles, or non-fungible tokens (NFTs).