The Cryptocurrency Market Cap Hits $3T For the First Time Ever in November 2021. The combined market cap of cryptocurrency has reached $3 trillion, as top altcoins push to all-time highs.
CoinGecko has estimated that the total cryptocurrency market capitalization is now at $3 trillion. Bitcoin (BTC), Polkadot(DOT) and Solana (SOL), are trading within 2% of their all-time highs.
CoinGecko reports that the total crypto market capital reached new heights on Oct. 20, surpassing its previous record of $2.62 trillion, and has increased by 14.5% in just three weeks.
The total crypto market cap reached a peak at $2.62 trillion in May 2018, before falling to $1.24 trillion by July 20. In the previous bull cycle, total digital asset capitalization reached an all-time high of $848.6 million on Jan. 6, 2018.
CoinGecko tracks the movements of 10,418 digital assets across 518 cryptocurrency markets.
Despite Bitcoin’s impressive price gains during the past two years, BTC’s market dominance has fallen by 42.8% since tagging a top of 70.8% on Sep. 6, 2019.
While Bitcoin still beats out its closest rival by more than double in terms of market share with 40.5% or $1.22 trillion compared to Ether’s 18.6% or $560 billion, the combined capitalization of all other cryptocurrencies is 40.9% or $1.24 trillion — evidencing the increasing plurality of the digital asset sector.
According to Messari’s Ethereum screener, which currently tracks 209 projects that have been built on the network, the Ethereum ecosystem currently represents a market cap of $829 billion or 27.6% dominance.