Positive market momentum in Monday’s Asian trading session resulted into a 3.1% increase for total crypto market capitalization.
This has led to it reaching an all-time high of over $3 trillion, according to CoinGecko analytics website.
Over the last seven days, the total market cap increased by 8.4% and 25.5% respectively. It has risen by 284% since the beginning of 2021 from $775 billion on January 1, 2019.
The Crypto Market Capacity: $3 Trillion
— CoinGecko (@coingecko) November 8, 2021
Quarter of the Gold Market
According to Companiesmarketcap, crypto markets now exceed the market capital of Microsoft, which stands at $2.5 trillion. However, it is only a quarter of the size of the gold market capital, which stands at $11.5 billion according to the marketcap tracker.
Bitcoin has earned 6.9% over the course of the day. It has a market capital of $1.12 trillion, and a 41.3% market share. It is roughly the same size and market share as Tesla, but is slightly smaller than Silver’s $1.36 trillion market cap.
Ethereum’s capitalization is $560 billion. It is larger than JPMorgan Chase’s $496 billion. Binance Coin, which is valued at $107 billion as of the writing date, is the third-largest cryptocurrency asset.
The Crypto Movers and Shakers
CoinGecko reports a 24-hour volume at $138 billion. This is equal to the market capital in March 2019.
Ripple’s Ripple’sXRP is the top ten top mover with an 9.8% gain on day, propelling it to $1.27. However, it has fallen down the charts in recent times and is currently seventh.
Avalanche’s (AVAX), is making other moves right now, with 13% being added to the top $95 as well as printing a new record high.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.