During Monday morning’s Asian trading session, positive market momentum 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.
Cryptocurrency’s combined market cap has marked $3 trillion for the first time as top altcoins shift into all-time highs. With Bitcoin swapping within 2% of its all-time high while Ethereum, Solana, and Polkadot push into earlier uncharted price ranges, CoinGecko estimates that the joined cryptocurrency market cap has broken above $3 trillion for the first time.
According to CoinGecko, the total crypto capitalization burst into new highs above its past record of $2.62 trillion on Oct. 20 and has increased by a further 14.5% in less than three weeks.
Crypto Market Cap: $3 Trillion
— CoinGecko (@coingecko) November 8, 2021
The connected crypto market cap had earlier topped out at the peak of nearly $2.62 trillion on May 12 of this year, before bouncing off a local low of $1.24 trillion on July 20. The former bull cycle saw the total digital asset capitalization post a high of $848.6 billion on Jan. 6, 2018.
CoinGecko’s data tracks 10,418 digital assets over 518 cryptocurrency exchanges.
Despite Bitcoin’s impressive price gains during the past two years, BTC’s market dominance has dropped by 42.8% since tagging a top of 70.8% on Sep. 6, 2019.
While Bitcoin still beats out its nearest rival by more than double in terms of market share with 40.5% or $1.22 trillion compared to Ethereum’s 18.6% or $560 billion, the combined capitalization of all other cryptocurrencies is 40.9% or $1.24 trillion — evidencing the growing 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 Ether ecosystem represents a market cap of $829 billion or 27.6% dominance presently.
