This is a historic first, the global capitalization of all cryptocurrencies has exceeded the threshold of 1,000 billion dollars. A performance largely driven by Bitcoin (BTC), which dominates the market with $ 690 billion.
New day, new record
According to data from aggregator Crypto Code review, the total capitalization of the cryptocurrency market exceeded $ 1,000 billion overnight. This is the first time in the history of cryptocurrencies that this symbolic level has been crossed.
“The trillion dollar threshold cements cryptocurrency as an asset class no longer on the fringes of mainstream finance, like a toy for retail investors,” Jack Purdy told CoinDesk, financial analyst at Messari .
The Bitcoin (BTC) absorbs over 68% of this amount, bringing together alone more than 680 billion. Next come Ether (ETH) with $ 135 billion, Tether (USDT) with $ 23 billion and Litecoin (LTC) with $ 11 billion.
The passage above this level is partly due to the explosion in the price of Bitcoin in recent weeks, which today reaches $ 37,000 .
The last bull-run record in terms of total capitalization was set on January 7, 2018, when it hit $ 853 billion before dropping to around $ 320 billion in just 30 days.
This is undeniably a major milestone for the entire cryptocurrency industry, especially considering that its capitalization approached $ 140 billion in the crash in mid-March. As always, the cryptocurrency market will have shown its resilience in the face of the crisis and impresses with its performance.
By comparison, the capitalization of gold is currently around $ 10 trillion . Together, cryptocurrencies now account for 10% of the gold market , a gap that may tend to narrow over time.
Moreover, the US bank JPMorgan estimates that Bitcoin should exceed $ 146,000 to match the total private sector investment in gold through exchange-traded funds. A price per BTC that would bring its total capitalization to $ 2,645 billion .