With Bitcoin (BTC) trading within 2% of its all-time high, pushing Ether (ETH), Solana (SOL) and Polkadot (DOT) into previously unspecified price ranges, CoinGecko estimates that the combined cryptocurrency’s market cap The dollar has exceeded 3 trillion dollars. for the first time.
According to CoinGecko, on October 20, the total market capitalization of the cryptocurrency soared to new highs from the previous record of $2.62 trillion, a further 14.5% increase in less than three weeks.
The total cryptocurrency market cap previously peaked at nearly $2.62 trillion on May 12 this year, then recovered from a local low of $1.24 trillion on July 20 and $848.6 billion on January 6, 2018.
CoinGecko data tracks 10418 digital assets across 518 cryptocurrency exchanges.
Despite the astonishing growth in bitcoin prices over the past two years, the dominance of the bitcoin market has fallen by 42.8% since it peaked at 70.8% on September 6, 2019.
While Bitcoin is still doubling its closest competitor in terms of market share of 40.5% or $1.22 trillion, up from 18.6% or $560 billion Ether, the total capitalization of all other cryptocurrencies is 40.9% or $1.24 trillion, indicating a growing pluralism. in the digital assets sector.
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According to the Messaris Ethereum Survey, which currently tracks 209 projects built on the network, the Ethereum ecosystem currently has a market capitalization of $829 billion, or 27.6% dominance.