Cryptos Continue Bull Run to $270B Market Cap

by Marvin Dumont

The total market cap of cryptocurrencies reached a three-month high of $270 billion in early trading on Sunday EST. With 24-hour trading volume exceeding $111 billion, investors were encouraged to see Bitcoin (BTC) surpass $9,500 after the price plummet on March 13.

So far this year, the peak total market cap for all coins/tokens was $307 billion back in Feb. 13. Since the global spread of the Chinese virus, the cryptocurrency market has fallen and recovered — bottoming at $129 billion in market cap in mid-March.

In early May, billionaire Paul Tudor Jones made headlines by calling Bitcoin “the fastest horse in this environment” and said almost 2% of his assets are now allocated in BTC. His confidence prompted other Wall Street investors to push up Bitcoin’s price the past couple of months.

Jones said on “Squawk Box” earlier this month:

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