As the crypto space records growth, Ethereum (ETH) has soared to a new all-time high as well.

The full total crypto market capitalization has reached an all-time most of $1.139 trillion. The crypto market recorded the newest high on Feb 4th at 8.50 a.m. UTC. Previously, the crypto market reached $1 trillion in its market value on Jan 6th.

Total Crypto Market Capitalization Climbs to New Levels

According to data by CoinMarketCap, the full total market cap for several cryptocurrencies happens to be $1,137,095,486,588. The crypto market has been surging as existing investors acquire more and new traders enter the crypto space. There's already been a rise in both institutional and retail traders in the last month.

Cointelegraph revealed that Bitcoin had 69% of the full total market share when the full total crypto market cap reached $1 trillion. During the same period, the very best two digital assets – Bitcoin and Ethereum – taken in gains amid increasing interest among investors. During the time, Ether's dominance was 13.5%. However, at press time, Bitcoin market dominance is 60.86%, while Ether currently dominates 16.52% of the full total cryptocurrency market share.

Additionally, Bitcoin is down 0.66 to $37,490.12 at the time of writing. ETH is also currently down 0.83% to $1,644.92.

Bitcoin and Ethereum

As the crypto space records growth, Ethereum (ETH) has soared to a new all-time most of $1,689.19. The most recent milestone also attracted an 8.19% 24-hour increase to ETH's market cap, reaching $191,305,111,850.59.

Additionally, Ethereum has already been attracting several bullish comments from the crypto community. The comments suggest that the second-largest cryptocurrency by market value will record new highs in 2021.

In a tweet, the founder and CEO of Global Macro Investor and Real Vision, Raoul Pal, noted:

“ETH is up 126% YTD (year-to-date). It's Feb 3rd, FFS! I still expect it is hitting $20K by around the turn of the year."

Reports revealed that the spike in the price tag on Ethereum might be tied to public companies stacking up vast ETH amounts. Grayscale recently added 24,000 ETH to its Ethereum Trust.

Crypto investor Ryan Sean Adams revealed that there indeed is $4.5 billion ETH in Grayscale in a tweet. He added:

"The institutions are buying ETH. And they're just getting started."

As companies acquire ETH, institutional investors will also be stacking up Bitcoin. A current report by Coinspeaker stated that Grayscale might trigger another Bitcoin bull run. In line with the report, BTC may surge in a reaction to GBTC shares unlocking. At the time of Feb 1st, Grayscale has $21.8 billion in assets under management.

Nasdaq-listed company MicroStrategy Inc (NASDAQ: MSTR) is one of many institutions holding large quantities of Bitcoin. Since MicroStrategy started purchasing BTC included in its treasury reserve policy in August a year ago, it has continually added more of the digital asset.

Of late, MicroStrategy added 295 BTC worth $10 million to its portfolio. After the purchase, the business had a complete of $71,079 BTC at the time of the next of February.

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