The total value of all cryptocurrencies has surpassed $1 trillion for the first time ever, with bitcoin leading the charge. BTC is now trading above $37,000 and has a market capitalization of $690 billion. Ether is near $1,200, with a market cap of $136 billion.

Bitcoin tokenized on the Ethereum blockchain is now closing in on the $5 billion mark, a new all-time high that is worth more than 4% of the total market capitalization of Ethereum, the second-largest cryptoasset by market cap.

Cryptocurrency exchange Uphold has revealed it will maintain the XRP token listed on its platform until the U.S. Securities and Exchange commission’s (SEC) lawsuit against Ripple Labs is resolved.

Top stories in the Crypto Roundup today:

• Total Crypto Market Capitalization Surpasses $1 Trillion
• Bitcoin Tokenized on Ethereum Nears $5 Billion
• Crypto Exchange Uphold to Keep XRP Listed Until SEC’s Lawsuit Against Ripple Is Resolved
• XLM, XRP, KNC Are Moving in the Crypto Market

Total Crypto Market Capitalization Surpasses $1 Trillion

The total value of all cryptocurrencies has surpassed $1 trillion for the first time ever, with bitcoin leading the charge. BTC is now trading above $37,000 and has a market capitalization of $690 billion. Ether is near $1,200, with a market cap of $136 billion.

Currently, bitcoin represents about 69% of the crypto market’s value. Over the last 12 months, the cryptocurrency’s nearly parabolic rise came as a result of institutional investors and publicly traded corporations investing in it. Retail investors have followed their lead.

This month alone BTC’s price has already moved up 25%, in a move that followed a 300% rise last year. Ethereum also soared over the last 12 months to now hit levels that hadn’t been seen since January 2018.

Companies like One River Asset Management, Ruffer Investment, MassMutual, and Square have bought millions worth of BTC over the last few months. MicroStrategy is known for putting in $1.125 billion in BTC, which are now worth $2.6 billion.

Some analysts point out altcoins have also been contributing, with some altcoin indexes rallying as much as 30% this month.

Bitcoin Tokenized on Ethereum Nears $5 Billion

Bitcoin tokenized on the Ethereum blockchain is now closing in on the $5 billion mark, a new all-time high that is worth more than 4% of the total market capitalization of Ethereum, the second-largest cryptoasset by market cap.

The value of the BTC tokenized on Ethereum has been growing exponentially, even though the amount of tokens circulating on ETH has dropped to its lowest level since September. There are several projects tokenizing BTC on the Ethereum blockchain, including Wrapped Bitcoin and renBTC.

Tokenizing Bitcoin on Ethereum allows bitcoiners to use the flagship cryptocurrency to trade, earn interest, or take out loans on decentralized finance (DeFi) applications.

As the number of Bitcoins locked on Ethereum has fallen after hitting a new all-time high in November, some believe traders are cashing out their coins to realize profits. The value of the DeFi space has, nevertheless, kept on growing.

Crypto Exchange Uphold to Keep XRP Listed Until SEC’s Lawsuit Against Ripple Is Resolved

Cryptocurrency exchange Uphold has revealed it will maintain the XRP token listed on its platform until the U.S. Securities and Exchange commission’s (SEC) lawsuit against Ripple Labs is resolved.

The SEC’s lawsuit against Ripple alleges that the firm, its CEO Brad Garlinghouse, and co-founder Chris Larsen “raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.”

In its announcement, Uphold revealed it won’t drop XRP unless trading volume for it dissipates, or the SEC’s complaint against Ripple legally determines the token is a security.

“Uphold has decided to continue listing XRP unless and until the SEC’s complaint against Ripple is adjudicated to legally determine that XRP is currently a security, or until trading volume dissipates to a point where we can no longer support XRP.”

Uphold added it trusts other cryptocurrency exchanges to “adopt a similar stance rather than rushing to judgement ahead of the court’s decision.”  It further pointed out that the SEC’s goal is to protect consumers, and believes it’s hard to see “how a judgement rendering XRP essentially worthless and inflicting billions of dollars of losses on retail investors” would square with that goal

XLM, XRP, KNC Are Moving in the Crypto Market

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Stellar (XLM) - Stellar is a decentralized platform that aims to connect banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost. Supported by a nonprofit, Stellar's goal is to bring the world together by increasing interoperability between diverse financial systems and currencies. XLM is up 37.4% in the last 24-hour period.

XRP (XRP) – After plunging over the U.S. Securities and Exchange Commission’s lawsuit against Ripple Labs, which led to XRP being delisted from several trading platforms, the token has started surging once again. In the last 24 hours XRP is up 33.14%, leading some to speculate its rise is based on support from exchanges like Uphold, or a dead cat bounce.

Kyber Network (KNC) – Kyber Network is an on-chain protocol that allows instant exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies (e.g. Ether, Bitcoin, ZCash) with high liquidity. KNC is up 22.9% in the last 24 hours.

State of the Crypto by Top Tier Exchange Volume

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