Capitalization of all cryptocurrencies exceeded $3 trillion for the first time

Bitcoin is in the top place by a wide margin from all others, check out its current value: www.bti.live/bitsoft360/

The capitalization of the global cryptocurrency market reached a record $3.005 trillion on November 8, according to the aggregator of the value of crypto assets CoinGecko.

Bitcoin has the largest share of the cryptocurrency market: CoinGecko and CoinMarketCap estimate the currency’s capitalization at $1.26 trillion and $1.23 trillion, respectively. Aggregators estimate the value of bitcoin at around $65,500, which is 5.6-5.8% more than the previous day.

The so-called ether (Ethereum) occupies about 20% of the market, and the next largest token, Binance Coin, is already less than 4% of the total market.

The previous psychological marks of $1 trillion and $2 trillion were reached by the general cryptocurrency market in January and April of this year, respectively.

Bitcoin rose 5.5% on Monday to $66,339, closing in on its previous high of $67,000. Ethereum rose 3% to a new high of $4,768. All movements are available here – https://dex.ag/bitsoft-360/

Bloomberg notes that the cryptocurrency market has roughly quadrupled from its value at the end of 2020. Investors have become more comfortable working with traditional tokens and blockchain platforms such as Ethereum and Solana, while new meme currencies – meme coins – such as Dogecoin and Shiba Inu continue to attract attention, the agency explains.

At the same time, the publication reminds us that tokens and the crypto market, in general, remain extremely volatile. When Bitcoin last approached the $67,000 level, the record was quickly followed by an instant drop of several thousand dollars, halving its value.

Other coins are even more volatile – meme tokens sometimes fluctuate in the range of tens and hundreds of percent.

Meanwhile, it became known that a third of all bitcoins are in the hands of 10,000 investors.