Digital Asset Markets Crosses Past 3 Trillion USD Market Cap For First Time

Digital asset’s combined market capitalization has touched three trillion dollars for the 1st time as top altcoins push into all-time highs.

As per coinmarketcap, the total cryptocurrency market capitalization broke into new highs above its earlier record of 2.62 Trillion USD on 20th October and has increased by a further fifteen percent in less than 3 weeks.

The total cryptocurrency market capitalization had earlier topped out at a crest of around 2.62 Trillion USD on 12th May of this year, prior to bouncing off a local low of around 1.25 Trillion USD on 20th July. The earlier bull cycle witnessed the total virtual currency capitalization post a high of 848.6 Billion USD on 6th January, 2018.

In spite of BTC’s magnificent price surge during the last 2 years, Bitcoin’s market dominance has decreased by around forty three percent since touching top of seventy percent on 6th September, 2019.

While BTC still beats out its nearest rival by over double in terms of market share with around forty percent or 1.22 Trillion USD compared to ETH’s eighteen percent or five hundred and sixty billion dollars, the combined capitalization of all other digital assets is around forty percent or 1.24 Trillion USD, evidencing the rising popularity of the digital asset sector.

As per Messari’s ETH screener, which presently tracks two hundred and nine projects that have been built on the network, the Ethereum ecosystem presently represents a market capitalization of around 829 Billion USD or twenty seven percent dominance.