3 trillion dollars of capitalization for cryptocurrencies
Cryptocurrency markets now weigh in 3 trillion dollars in capitalization, a threshold reached for the very first time during this night:
Crypto Market Cap: $ 3 Trillion
– CoinGecko (@coingecko) November 8, 2021
The dominance of Bitcoin (BTC) over other crypto-assets continues to fall in recent weeks. The queen of cryptocurrencies represents “only” 42% of capitalization total. Ether (ETH) continues to grow, it now represents 19% of the market cap.
According to the data collected by the 8marketcap site, Bitcoin is however the 8e most capitalized asset in the world, now overtaking Tesla, Meta (Facebook) and NVIDIA :
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ETH and SOL surpass their records
This increase in capitalization is partly due to the breakthroughs of altcoins, in particular Ether (ETH). Ethereum cryptocurrency hit a new high this morning, for the first time exceeding $ 4,760 :
The ETH price breakthrough overnight – Source: TradingView, ETH / USDT
The price of ETH rose by almost + 4% overnight, reaching its highest level. The cryptocurrency’s capitalization now exceeds $ 565 billion.
Within the top 10, another altcoin broke its record: Solana’s SOL. Cryptocurrency confirmed its uptrend yesterday, brushing for the first time the $ 260 threshold :
The SOL price hit a record yesterday – Source: TradingView, SOL / USDT
This jump of + 13% was however offset by a decline of -7% suffered yesterday. Still, the capitalization of SOL still exceeds that of Tether (USDT) in fourth place in the ranking.
Other altcoins broke their records, including Terra’s LUNA, who crossed 52 dollars yesterday. This morning, it was the Avax of Avalanche which went alongside the 94 dollars for the first time.
👉 To read – Solana Ventures and FTX launch a $ 100 million fund dedicated to Crypto Gaming
BTC is approaching its ATH
The price of BTC is however far from being outdone. The queen of cryptocurrencies is now approaching its all-time high of $ 67,200, reached twenty days ago. This morning, the price of a BTC reaches 66 200 dollars, and the cryptocurrency’s capitalization exceeds $ 1,248 billion.
The trend is therefore resolutely upward on the markets at the start of the week. Will BTC surpass its all-time high again? The days to come will tell us …
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