$500 Billion Market Cap – Welcome to the COVID-19 Crypto Bull Run

Crypto Market cap surpasses $500 billion
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The total market capitalization of all cryptocurrencies has surpassed the $500 billion mark for the first time since February 2018 as the price of several altcoins is moving up, while BTC’s price is hovering around the $18,000 mark. At the time of writing the BTC price oscillated around $18,300 at CryptoCompare. Most crypto experts expect the BTC to surpass the previous all-time high of almost $20,000 from December 2017 in this bull run.

While there are several cryptoassets moving up in the last 24 hours, according to CryptoCompare data some in the decentralized finance (DeFi) space currently stand out with gains above 20% in that same period. SushiSwap’s SUSHI token, for example, went up over 21%, Yearn.Finance, a decentralized finance protocol that aggregates yields from lending platforms has also seen the price of its YFI token move up 22.53%.

The COVID-19 pandemic seems to have energized cryptocurrencies since February 2020. The PayPal announcement to accept BTC and some other cryptocurrencies from 2021 on has certainly contributed to this. It could well be that 2021 will be a perfect crypto year.

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