Total Cryptocurrency Market Cap Tops $3.8 Trillion in Record High
Crypto markets have been on fire this week, causing total market capitalization to reach new highs. According to Coingecko, the total cryptocurrency market capitalisation has achieved an all-time high of $3.83 trillion, up 2.7% on the day. Donald Trump’s presidential election victory and the prospect of a pro-crypto regulatory environment in the United States have fuelled digital asset market momentum. Since election day on November 5, about $1.5 trillion has entered the cryptocurrency market, with the entire capitalisation increasing by a stunning 63% in just one month.
Bitcoin Cap Hits $2T
The cryptocurrency market capitalization is already increased 24% from its previous peak in the 2021 bull market, when it reached $3.08 trillion. This was 270% greater than the market cap peak of $830 billion in 2017, implying that a similar increase in this cycle might boost the market cap to roughly $11 trillion by 2025.
Crypto assets have a long way to go, as markets now account for only 21% of the total gold market capitalization, which is $17.9 trillion. Today’s milestone was set by Bitcoin, which soared to a new all-time high of slightly under $104,000 during early Asian trade on Thursday.
As a result, Bitcoin’s dominance has recovered to 57%, following a significant drop caused by altcoin momentum over the last few weeks.mBitcoin’s market capitalization has also surpassed $2 trillion for the first time, making it the world’s seventh most valuable asset, trailing only Google parent Alphabet’s $2.1 trillion capitalization.
MicroStrategy inventor Michael Saylor forecasted that the Bitcoin market capitalization would reach a staggering $280 trillion by 2045, equating to $13 million per coin. “Bitcoin overtakes gold in market capitalization by 2037. “That’s my guess,” trader Bob Loukas stated. It currently accounts for only 11% of the gold market capitalization.
Altcoin Market Cap at ATH
Ethereum has yet to recapture its psychological barrier of $4,000, but it is approaching it. The market capitalization of ETH surpassed $460 billion as the asset surged over $3,900 on Thursday morning. Aside from stablecoins, the next largest digital asset by market capitalization is XRP ($130 billion) and the recently flipped Solana ($110 billion).
According to Coingecko, total altcoin market capitalization has reached a record high of $1.85 trillion, surpassing the previous milestone set in November 2021. Surprisingly, Ethereum and stablecoins alone account for 35% of this total.
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