Total Crypto Market Cap Tops $3.8 Trillion in Record High

Total crypto market cap has reached an all-time high of $3.83 trillion following a 2.7% rise on the day, according to Coingecko. Digital asset market momentum has largely been driven by Donald Trump’s presidential election victory and the promise of a pro-crypto regulatory landscape in the United States. Since election day on Nov. 5, almost $1.5 trillion has entered the crypto market as total cap has surged a whopping 63% in just one month. Bitcoin Cap Hits $2T The crypto market cap is now up 24% from its previous peak during the 2021 bull market when it topped out at $3.08 trillion. This was 270% higher than the 2017 market cap peak of $830 billion, so a similar gain in this cycle could propel the market cap to around $11 trillion in 2025. Crypto assets have a long way to go since markets currently account for just 21% of the entire gold market cap, which is $17.9 trillion. Today’s record has been driven by Bitcoin, which surged to its own all-time high of just under $104,000 during early trading in Asia on Thursday. As a result, Bitcoin’s dominance has recovered to reclaim 57% following a substantial dip caused by altcoin momentum over the past couple of weeks. Bitcoin market cap has also exceeded $2 trillion for the first time ever, making it the world’s seventh largest asset, just behind Google parent Alphabet with $2.1 trillion capitalization. MicroStrategy founder Michael Saylor predicted that the Bitcoin market cap would reach a whopping $280 trillion by 2045, which equates to $13 million per coin. “Bitcoin flips Gold market cap 2037. That’s my guess,” said trader Bob Loukas. At the moment, it is just 11% of gold’s market capitalization. Altcoin Market Cap at ATH Ethereum has still failed to reclaim its psychological barrier at $4,000, but it is not far off it. The ETH market cap topped $460 billion as the asset spiked to $3,900 on Thursday morning. Aside from stablecoins, the next largest digital asset by market capitalization is XRP, which has $130 billion and recently flipped Solana, which has $110 billion. Total altcoin market capitalization has also hit a new peak of $1.85 trillion, surpassing its November 2021 peak, according to Coingecko. Remarkably, Ethereum and stablecoins alone comprise 35% of this total. The post Total Crypto Market Cap Tops $3.8 Trillion in Record High appeared first on CryptoPotato .

Source: Crypto Potato