As an analyst with over two decades of experience in the financial markets, I must say that this latest surge in the crypto market cap to an all-time high of $3.83 trillion is truly remarkable. The rapid growth since Donald Trump’s presidential election victory has been nothing short of phenomenal, and it’s fascinating to witness the transformation of digital assets from a niche market to a significant player on the global financial stage.
The combined value of all cryptocurrencies has hit a record peak of $3.83 trillion today, marking a 2.7% increase as reported by Coingecko.
The surge in the digital assets market can be attributed largely to Donald Trump’s presidency win and his administration’s pledge for a favorable regulatory environment regarding cryptocurrencies in the U.S., which has fueled optimism among investors.
Over the past month since November 5th (election day), an astounding $1.5 trillion worth of investments have flowed into the cryptocurrency market, with its total value skyrocketing by a staggering 63%.
Bitcoin Cap Hits $2T
Currently, the total value of the cryptocurrency market has risen by 24% compared to its highest point during the 2021 bull run, which was $3.08 trillion. This is a significant increase from its previous record in 2017, where it peaked at $830 billion, marking a rise of approximately 270%. If this trend continues, we could see the market cap reach around $11 trillion by the year 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.
After experiencing a significant drop due to the surge of altcoins in the last fortnight, Bitcoin’s influence has bounced back, regaining approximately 57%.
For the very first time, the value of all existing Bitcoins collectively surpassed a staggering $2 trillion, placing it as the seventh most valuable asset globally, trailing slightly behind Alphabet Inc., Google’s parent company, which boasts a market cap of $2.1 trillion.
Michael Saylor, the founder of MicroStrategy, envisioned that the total value of the Bitcoin market could surge to an astounding $280 trillion by the year 2045, translating to approximately $13 million for each individual coin.
According to trader Bob Loukas, by the year 2037, he predicts that Bitcoin’s market cap will surpass that of Gold. Currently, Bitcoin represents only about 11% of Gold’s total market capitalization. (Paraphrased for clarity and simplicity)
Altcoin Market Cap at ATH
Despite not yet surpassing the $4,000 resistance level, Ethereum‘s price surge has brought it quite close. On Thursday morning, the Ethereum market capitalization peaked at a staggering $460 billion as the asset momentarily reached $3,900.
In terms of market value, aside from stablecoins, the second-largest digital asset is XRP, currently worth approximately $130 billion, surpassing Solana’s value of around $110 billion in recent times.
The combined value of all cryptocurrencies (altcoins) has reached a record high of $1.85 trillion, exceeding its previous peak from November 2021, as reported by Coingecko. Interestingly, Ethereum and stablecoins make up about one-third (35%) of this total market cap.
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2024-12-05 10:46