<span class="acf-media-credit"><span class="acf-credit"><span class="acf-credit"><a href="theblock.co" target="_blank">The Block</a></span></span><span class="acf-credit"> | <span class="acf-credit"><a href="irischo.com" target="_blank">Illustration by Iris Cho for The Block</a></span></span></span>The global crypto market capitalization climbed to nearly $2.82 trillion on Thursday, reaching its highest level in more than seven months as bitcoin broke above $81,000 and major altcoins posted double-digit gains.
This is a major recovery from its sharp January sell-off, when the total market cap fell from around $3.4 trillion in mid-January to around $2.3 trillion in the first week of February. Bitcoin (BTC) traded around $81.460 at publication time, up 5.4%.
Zcash's native (ZEC) token led the day's gains among the top 50 cryptocurrencies, jumping 16.5%. Cardano (ADA) gained 13% while Dogecoin (DOGE) and XRP each climbed roughly 10%.
Crypto Market Cap. Source: The Block/CoinGecko
The rally also spilled over into crypto-related equities. Bitcoin treasury company leader Strategy (MSTR) and USDC stablecoin issuer Circle (CRCL) gained 15%, while crypto exchange Coinbase (COIN) rose around 10%. The momentum also pushed Strategy's STRC preferred shares nearly back to their $100 intended par value after dropping as low as $69 five weeks ago.
