The cryptocurrency market reached a historic milestone today, hitting an unprecedented market capitalization of $3.83 trillion amid a 2.7% daily increase, according to data from Coingecko.
The surge comes in the wake of Donald Trump's presidential election victory, with investors responding positively to expectations of a crypto-friendly regulatory environment in the United States. Since Election Day on November 5, the crypto market has experienced a remarkable 63% expansion, attracting nearly $1.5 trillion in new capital.
Bitcoin led the charge, reaching a new all-time high of almost $104,000 during Asian trading hours on Thursday. The leading cryptocurrency now commands 57% of the total market share and has achieved its own milestone with a market cap exceeding $2 trillion. This positions Bitcoin as the world's seventh-largest asset, trailing just behind Alphabet (Google's parent company).
The broader cryptocurrency market has shown impressive growth compared to previous cycles. The current market cap represents a 24% increase from the previous peak of $3.08 trillion recorded during the 2021 bull market. However, crypto assets still represent only 21% of gold's total market value of $17.9 trillion, suggesting potential room for growth.
In the altcoin space, Ethereum approaches the $4,000 mark with a market cap of $460 billion. XRP and Solana follow as leading altcoins, with market caps of $130 billion and $110 billion respectively. The total altcoin market cap has reached a new record of $1.85 trillion, with Ethereum and stablecoins accounting for 35% of this value.
Industry figures remain optimistic about future growth. MicroStrategy founder Michael Saylor projects Bitcoin's market cap could reach $280 trillion by 2045, while trader Bob Loukas predicts Bitcoin will surpass gold's market cap by 2037. Currently, Bitcoin's market cap represents 11% of gold's total value.
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