The market capitalization of cryptocurrencies on the decentralized network has reached higher than all-time, $2.6 trillion as per CoinGecko.
The news first headlined in BeInCrypto Join our Telegram Group. The graph below shows that digital currencies have surpassed their records by hitting $2.55 trillion – as of 17 Oct 2021. The major players of this hit are many altcoins such as ETH, DOGE, or LITE, which are notching up their record higher than ever.
Rival token CoinMarketCap reported a total digital market capitalization of around $2.5 trillion, similar to the peak of May, 2021.
They mentioned that crypto market capitalization (in total) surged 233% in January 2021 from $780 billion.
Crypto’s Market Valuation Is Now Higher Than Some Of The Other Largest Corporations In The World
The Crypto marketplace is now higher than other comprehensive corporations, businesses, and companies.
Apple Inc. is one of the most demanded American multinational technology companies specializing in computer software, consumer electronics, and online technical services. It’s worth around $2.39 trillion, peaking the currencies chart.
Besides Apple, Microsoft, the second-largest firm, is also at $2.28 trillion today, reported CompaniesMarketcap.
When it comes to Cryptocurrencies, Bitcoin (BTC) is currently running with a gain of 2.7% today. It was up 14% in the last seven days and 32% over the latter month. With this rise in value, BTC’s worth is 3.4% higher as of 14 April 2021. As per CoinGecko, it was worth $64,800 at that time. This 3.4% worth of BTC is now $1.18 trillion, which is 45% in total.
BTC usually rises before altcoins. Therefore, altcoins come into play after the falls and breaks in bitcoin prices. Compared to multinational organizations, Bitcoin ranks sixth worldwide. It is worth more than Facebook, which is worth $915 billion. But Bitcoin is lower than Amazon, which is worth $1.7 trillion. Here, the altcoins do the make-up work for crypto.
Ethereum holds 17% of the crypto market capitalization, which is about $458 billion. The Ethereum status is similar to Chinese e-commerce giant Alibaba in terms of size.
The number of billion-dollar altcoins growing with a market cap of over $1 billion, is 108, CoinGecko added.
The Top 10 altcoins, Polkadot, XRP, Cardano, Tether, Helium, HNT, Elrond EGLD, Polygon, MATIC, Vechain etc, are worth $30 billion altogether.
Altcoins have not raised in value in the past day, as BTC is making all the progress, attaining an additional 2.6%, trading at $62,350 for the first time.