Total Crypto Market Cap Tops $3.8 Trillion in Record High
Crypto markets have been on fire this week, driving total market capitalization to record highs.
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.
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