Hold onto your hats, folks, because the crypto rollercoaster is hitting new heights this week! Imagine the thrill of a rocket launch as the total cryptocurrency market cap skyrockets to an astronomical $3.83 trillion! That's right, a jaw-dropping surge of 2.7% in just one day has set new records, leaving investors on the edge of their seats.
So, what's fueling this meteoric rise? Well, it seems like Donald Trump’s presidential win has put some serious wind in the crypto sails, with promises of a more crypto-friendly regulatory environment in the U.S. sparking major excitement. Since the election on November 5th, an eye-popping $1.5 trillion has flooded into the crypto market, pushing the total cap up by a staggering 63% in just a month. Talk about a turbocharged market!
To put this into perspective, the current market cap surpasses the 2021 bull market peak of $3.08 trillion by 24%. Back then, we were already amazed by a 270% leap from the 2017 peak of $830 billion. If this trend continues, we might be looking at a mind-blowing $11 trillion market cap by 2025. Buckle up!
Crypto is still playing catch-up with the gold market cap, which stands at a hefty $17.9 trillion. But Bitcoin is making some serious moves, hitting its own all-time high of just under $104,000 during Thursday's early trading in Asia. Bitcoin now commands a 57% market dominance, bouncing back after altcoins had their moment in the spotlight.
With Bitcoin's market cap crossing the $2 trillion milestone, it’s now the world's seventh-largest asset, just a step behind Google’s parent company, Alphabet. Visionary Michael Saylor predicts Bitcoin could hit a mind-blowing $280 trillion market cap by 2045, translating to about $13 million per coin. Trader Bob Loukas also sees Bitcoin surpassing gold's market cap by 2037. Right now, it’s just 11% of gold's value, but who knows what the future holds?
Ethereum is inching closer to its psychological $4,000 mark, with its market cap soaring to $460 billion after reaching $3,900. Meanwhile, XRP has leapfrogged Solana to become the next largest digital asset by market capitalization, standing at $130 billion compared to Solana’s $110 billion.
And let’s not forget the altcoins! Their market cap has also reached a new zenith at $1.85 trillion, surpassing the November 2021 peak. Ethereum and stablecoins alone account for a hefty 35% of this total. The crypto market is sizzling hot, and the excitement is palpable. Keep your eyes peeled; this crypto journey is far from over!
