News - Crypto industry reaches market capitalization of $2 trillion

By Mike Hesp

Crypto industry reaches market capitalization of $2 trillion

Bitcoin (BTC)
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Not only Bitcoin, but the broader crypto market is on the rise. The sector is now on its way to its previous all-time high.

The crypto market is once again worth more than two trillion dollars. This is according to data from Coingecko. At the time of writing, the total value of all cryptocurrencies currently counted is $2.09 trillion.

The last time the sector reached this value was on April 20, 2022, making it clear that the disasters of the past bear market have been overcome for now.

In doing so, the sector is leaving behind the collapses of once well-known crypto institutions such as FTX, Celsius, Three Arrows Capital and lawsuits against crypto exchanges Binance, Coinbase and Kraken behind it. And with the latest milestone, it once again proves its resilience.

Total crypto market capitalization has increased by more than 150% since the collapse of FTX, the low point of the bear market in November 2022. Much to the delight of investors who held on to their BTC, ETH or SOL, no matter how dire the situation seemed.

With a price gain of more than 1,300 percent since December 2022, Solana has shown the most impressive recovery of the crypto top 10.

Looking at the balance of power, it is clear that Bitcoin is still number one in the industry. The leading currency has a market dominance of over 50 percent, followed by Ethereum in second place with a market share of about 16 percent.

Looking ahead, the $3 trillion mark is now approaching: the current all-time high of total market capitalization. According to the forecasts of analysts, the Bitcoin price will reach the $250,000 mark before the end of the year. A total market capitalization of five trillion dollars would thus be quite feasible under favorable conditions.

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