Cryptocurrency market capitalization exceeded the value of all US banks

• Cryptocurrency market capitalization has reached $ 2 trillion, according to data from CoinGecko.
• Crypto market capitalizationsurpassed the value of the S&P Composite 1500 Banks Index.
• Currently, 100 crypto projects are valued at more than $1 billion.

Traditionally, the first quarter is bad forcryptocurrency market, but not this time. Bitcoin is up 103% in the first three months of 2021, with some other crypto assets posting even stronger gains.

On the contrary, the second quarter was productive in 7 out of 8 cases.

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At the beginning of the second quarter of 2021The cryptocurrency market has crossed a significant milestone of $2 trillion, according to CoinGecko. The head of the analytical company Bianco Research, Jim Bianco, notes that the cryptocurrency market now has more value than the entire US banking system.

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The chart above compares the cryptocurrency market and the S&amp;P Composite 1500 Banks Index, an index of publicly traded American banking institutions.

"The total value of all cryptocurrencies has surpassed the US banking system", writes the expert.

Bianco decided to develop his thought further andadded that if the cryptocurrency market doubles from current levels, it will surpass the entire US financial system, including banks, brokers, insurance companies, asset managers and other financial institutions. Growth by 4 times will lead to the fact that the capitalization of the crypto market will be larger than the indicators of all financial companies in the world combined.

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The crypto market is beginning to undermine the capitalization of gold, reaching 27.8% of the total value of the precious metal.

It is also interesting that at the moment 100 cryptocurrency projects are worth more than $1 billion. This data is provided by the CoinGecko portal.

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Will altcoins continue to grow? Bianco believes that there will be:

“In 2018, altcoins accounted for 70% of the total value of the crypto market. Then the bubble burst. Based on this information, we can assume that the market still has room to grow. "

At the moment, bitcoin dominance is 55.3%, according to data from CoinMarketCap.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features &#8212; futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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