The cryptocurrency market capitalization has reached an all-time high of $3.12 trillion and is now close to surpassing France’s gross domestic product (GDP).
On November 11, the total cryptocurrency market capitalization surged 7% in 24 hours, mainly due to Bitcoin’s sudden surge to $89,500.
If the crypto market were a country, it would be the eighth largest market by GDP, behind the United States, China, Germany, Japan, India, the United Kingdom, and France.
Meanwhile, the market capitalization of Bitcoin alone now exceeds $1.77 trillion—higher than the GDP of Spain, according to to the International Monetary Fund.
Last total Cryptocurrency market capitalization is $3 trillion It was on November 15, 2021, shortly after Bitcoin reached its previous all-time high of $69,000 during the 2020-2021 bull run, according to CoinGecko, which tracks 15,129 coins from 1,149 cryptocurrency exchanges.
Changes in cryptocurrency market capitalization over the last month. Source: CoinGecko
Cryptocurrency market capitalization now exceeds that of tech giants Microsoft and is approaching NVIDIA and apple, According to Google Finance data, the two companies with the highest market capitalization in the world.
Rising Bitcoin prices also pushed its market capitalization to It’s silver again November 11.
Ranked 5th to 12th largest assets by market capitalization. source: Company market capitalization
Markus Thielen, founder of 10x Research, said in an interview with Cointelegraph Bitcoin dominates ‘Staying strong’ as cryptocurrency market cap approaches $4 trillion.
Related: Bitcoin price will hit $1 million, but at what cost? — Michael van de Pop
“We expect Bitcoin dominance to remain strong, with the current rally focused on Bitcoin and extending towards Ethereum and Solana.”
“We firmly believe that Bitcoin will reach $100,000 by the end of the year.”
At a Bitcoin price of $100,000, its market value would reach nearly $2 trillion.
Thielen also believes some Solana-based tokens Outperform and expect many of the companies that outperformed during the 2020-2021 bull cycle to likely underperform.
Bitcoin is Current pricing to $89,478 – up 11% in 24 hours and just shy of breaking the $90,000 mark.
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