The global crypto market capitalization has reached the $3 trillion mark after several cryptocurrencies rose following Bitcoin’s surge amid price discovery.
Bitcoin (BTC) surpassed the $85,000 mark and propelled the total crypto market cap to over $3 trillion on November 11.
The flagship cryptocurrency surged 6% in the past 24 hours and hit a high of $85,000 for the first time. The price of BTC has increased by 38% in 30 days and over the past year, bulls have seen gains of over 130%.
According to market data tracked by crypto.news, the aggregate market capitalization of all cryptocurrencies stood at just over 3.01 trillion as of 12:20 p.m. ET on November 11, 2024.
The market cap at the time of writing represented a 3.3% increase over the past 24 hours and an increase of over 5% from a year ago. Notably, Bitcoin led all coins to cross the milestone during the last bull market in 2021.
At the time of writing, Bitcoin’s market cap stood at over $1.67 trillion, signifying an overall dominance of 55.7%. BTC’s market cap surpassed that of meta platforms last week and is currently just a hair away from turning the tide; According to the global asset rankings on CompaniesMarketCap, silver is the eighth largest with a market capitalization of $1.72 trillion.
Meanwhile, Ethereum (ETH) has a market cap of $397 billion, reflecting 13.2% dominance and stablecoins stand at $182 billion, representing 6% of the total market cap.
As Donald Trump’s victory in the 2024 US election sets the stage for a potentially cryptocurrency-friendly White House, investors are bullish on BTC and the rest of the space. This includes the altcoin market, where assets such as Solana (SOL) and BNB (BNB) could be primed for an explosive rally.
Meme coins are also seeing notable gains and are ready. Dogecoin, dogwifhat, and Floki have seen substantial upward movement over the past week as the meme narrative gains new momentum.
