Crypto markets tag $3T combined market cap for the first time
Cryptocurrency market cap has tagged $3 trillion for the first time as top altcoins push into all-time highs.
Bitcoin trading is within 2% of all-time high while Ethereum, Solana, and Polkadot drive into previously uncharted value ranges, According to CoinGecko approximation that the combined cryptocurrency market cap has broken above $3 trillion for the first time.
According to CoinGecko, the total crypto capitalization broke into new highs over its past record of $2.62 trillion on Oct.20 and has expanded by a further 14.5% in under three weeks. CoinGecko’s data tracks 10,418 digital assets across 518 cryptocurrency exchanges.
The combined crypto market cap had recently finished out at a pinnacle of almost $2.62 trillion on May 12 of this year. prior bouncing off a low of $1.24 trillion on July 20. The last bull cycle saw the total digital asset capitalization post a high of $848.6 billion on Jan 6, 2018.
Despite Bitcoin's dominant value gains during the beyond two years, BTC's market dominance has fallen by 42.8% since tagging a top of 70.8% on Sep. 6, 2019.
While Bitcoin demolishes its nearest rival by beyond double in terms of market share with 40.5% or $1.22 trillion compared with Ethereum's 18.6% or $560 billion, the combined capitalization of all other cryptocurrencies is 40.9% or $1.24 trillion — proving the expanding majority of the digital asset sector.
According to Messari's Ethereum screener, which currently tracks 209 projects that have been built on the network, the Ether ecosystem currently represents a market cap of $829 billion or 27.6% dominance.