In a single day, the crypto market cap has increased by about $120 billion

The crypto market cap increased by around $120 billion in a single day, as bitcoin and other altcoins saw significant gains.

On March 16, Bitcoin surpassed $40,000 for the first time, and it hasn't looked back since. Following a few near calls, the asset began to progressively recapture additional round-numbered milestones, eventually reaching $45,000 a few days ago, according to CryptoPotato.

BTC had retraced little but stayed in a range between $44,000 and $45,000 as the weekend began in a very quiet way.

Before it all changed, Sunday was also a rather slow day. The cryptocurrency jumped about $3,000 in only a few hours, reaching an intraday high of $47,800. Furthermore, this was the asset's most expensive price since January 2. There were also over $400 million in liquidations as a result of the enormous price hike.

Most cryptocurrencies remained relatively unchanged during the weekend, but have since skyrocketed on a daily basis, comparable to bitcoin.

In the end, the cryptocurrency market capitalization increased by $120 billion in a single day, reaching a multi-month high of $2.1 trillion.