Total crypto market capitalization surpasses $3.8 trillion at a record high

According to Coingecko, the total crypto market capitalization has reached an all-time high of $3.83 trillion after a 2.7% increase on the day.

The momentum in the digital asset market has been fueled largely by Donald Trump’s presidential election victory and the promise of a pro-crypto regulatory landscape in the United States.

Since Election Day on November 5, nearly $1.5 trillion has flowed into the crypto market as the total cap has increased by 63% in just one month.

Bitcoin cap hits $2 billion

The crypto market cap is now up 24% from its previous peak during the 2021 bull market when it reached $3.08 trillion. That was 270% higher than the 2017 market cap peak of $830 billion, so a similar gain in this cycle could push the market cap to around $11 trillion by 2025.

Crypto assets have a long way to go, as the markets currently represent only 21% of the total gold market capitalization, which is $17.9 trillion. Today’s record high was driven by Bitcoin, which rose 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 rebounded to regain 57% after a substantial drop caused by the altcoin push over the past two weeks.

Bitcoin’s market capitalization has also surpassed $2 trillion for the first time, making it the seventh largest asset in the world, just behind Alphabet’s Google, with a market capitalization of $2.1 trillion.

MicroStrategy founder Michael Saylor predicted that Bitcoin’s market capitalization would reach $280 trillion by 2045, which equates to $13 billion per coin.

“Bitcoin reverses gold market cap 2037. That’s my guess,” said trader Bob Loukas. At the moment, it is only 11% of the market capitalization of gold.

Altcoin Market Towards ATH

Ethereum has not yet been able to recover its psychological barrier at $4,000, but it is not far away. The ETH market cap topped $460 billion as the asset rose to $3,900 on Thursday morning.

Aside from stablecoins, the next largest digital asset by market cap is XRP, which has $130 billion, and recently invested Solana, which has $110 billion.

The total altcoin market capitalization has also reached a new high of $1.85 trillion, surpassing its November 2021 peak, according to Coingecko. Remarkably, Ethereum and stablecoins alone account for 35% of this total.

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