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Positive market momentum during Monday morning’s Asian trading session has resulted in a 3.1% gain for the total crypto market capitalization.
According to analytics website CoinGecko, this has pushed it to an all-time high above $3 trillion at the time of writing.
The total market cap has increased by 8.4% over the past seven days and 25.5% over the past 30 days. Since the beginning of 2021, it has surged a whopping 284% from $775 billion on January 1st.
Crypto Market Cap: $3 Trillion
— CoinGecko (@coingecko) November 8, 2021
A Quarter of The Gold Market
Crypto markets are now larger than the world’s largest company by market cap, which is Microsoft with $2.5 trillion, according to Companiesmarketcap. It is about a quarter the size of the gold market cap, however, which stands at $11.5 trillion according to the market cap tracker.
Bitcoin, which has made 6.9% on the day, has a market cap of $1.12 trillion and a market share of 41.3%. It is about the same size as Tesla but slightly smaller than the Silver market cap, which is $1.36 trillion.
Ethereum has a $560 billion capitalization and is now larger than JPMorgan Chase, which has $496 billion. The third-largest crypto asset by market cap is Binance Coin which has $107 billion at the time of writing.
Crypto Movers and Shakers
CoinGecko is reporting a 24-hour volume of $138 billion, which is the same as the total market cap was in March 2019.
Ripple’s XRP is the top ten’s top mover with a 9.8% gain on the day, propelling the token to $1.27. It has been knocked down the charts recently, however, and currently sits below Cardano in seventh.
Avalanche (AVAX) is also making moves at the moment, with 13% added to the top $95 and printing a new all-time high.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.