The total market value of cryptocurrency hit an all-time high of $1.9 trillion

On March 30, after the sharp rise of bitcoin and Ethereum in the past 24 hours, the overall market value of cryptocurrency assets hit a record high of US $1.9 trillion. At present, there is a small decline, with the total market value of cryptocurrency at $1.85 trillion.At the beginning of this year, the market value of cryptocurrency was close to $750 billion.

According to the latest data released by coinmarketcap, the market value of bitcoin, the world's largest cryptocurrency, is more than $1.1 trillion, and Ethereum, the world's second largest cryptocurrency, has a market value of nearly $210 billion.

Over the past few months, there has been a significant increase in institutional adoption of special currency and other cryptocurrency assets.

Three payment giants embrace cryptocurrency Market

Payment giant visa announced on Monday that it would allow its partners to settle French currency transactions on Ethereum blockchain.

"We see a growing demand from consumers around the world to be able to access, hold and use digital currencies," cuy Sheffield, head of visa crypto, said in a statement yesterday.

Then, PayPal, another payment giant, announced on Tuesday that it would allow U.S. users to pay merchants with cryptocurrency assets.

In addition to PayPal and visa, the payment giant MasterCard announced in February 2021 that it plans to support cryptocurrency payments this year.Raj dhamodharan, executive vice president of blockchain and digital partnerships at MasterCard, said the company had begun to integrate selected cryptocurrency assets on its network.Tesla, the world's largest electric car maker, announced earlier this month that U.S. consumers can now use bitcoin to buy Tesla products.

Bitcoin and Ethereum account for more than 70% of the total cryptocurrency market value.Digital currencies such as binance coin, Polkadot, Cardano and XRP have risen significantly in the past few months.The market value of the cryptocurrency market is currently close to $1.9 trillion, more than the total GDP of Canada as a whole.