As a seasoned researcher with a decade-long career in the financial markets and a keen interest in the crypto space, witnessing this monumental milestone of the global crypto market capitalization reaching $3 trillion is nothing short of breathtaking. The rapid surge of Bitcoin to surpass the $85,000 mark and set the stage for this historic achievement is reminiscent of the internet’s dot-com boom in the late 90s – a period that I vividly remember as an up-and-coming analyst.
The overall value of the worldwide cryptocurrency market has surpassed $3 trillion as various digital currencies experienced growth following Bitcoin‘s increase, during the process of determining its worth.
On November 11, the value of a single Bitcoin (BTC) surpassed $85,000, propelling the combined worth of all cryptocurrencies towards a staggering $3 trillion.
As a researcher immersed in the dynamic world of cryptocurrencies, I’m thrilled to report that the leading digital currency has surged by a significant 6% within the last 24 hours. Remarkably, it has scaled new heights, touching an unprecedented $85k for the very first time. Over the past month, its price has escalated by a robust 38%, and over the course of the past year, the bullish sentiment has reaped returns exceeding 130%. This is truly an exciting development in the ever-evolving landscape of digital currencies.
Based on information from crypto.news, the combined market value of all cryptocurrencies was approximately $3,010,000,000,000 at noon Eastern Time on November 11, 2024.
At this moment, the current market value indicates a 3.3% surge over the last 24 hours and an impressive over 5% rise compared to a year prior. It’s worth noting that Bitcoin was the coin that reached a significant milestone during the last bull run in 2021, leading all other cryptocurrencies.
Currently, the total value of all Bitcoins in circulation exceeds $1.67 trillion, making up about 55.7% of the entire cryptocurrency market. This week, Bitcoin’s market cap surpassed that of Meta Platforms and is now close to overtaking Silver, which holds a market cap of approximately $1.72 trillion according to CompaniesMarketCap rankings.
Currently, Ethereum (ETH) boasts a market capitalization of approximately $397 billion, making up around 13.2% of the overall market share. Meanwhile, stablecoins stand at a market cap of about $182 billion, representing roughly 6% of the total market value.
If Donald Trump wins the U.S. election in 2024, there’s a possibility that his administration might be favorable towards cryptocurrencies. This optimism among investors is causing them to anticipate a surge in Bitcoin (BTC) and other digital currencies. This positive outlook also extends to the altcoin market, where coins like Solana (SOL) and Binance Coin (BNB) could experience a significant upward trend or explosion in value.
As a crypto investor, I’ve noticed some significant growth in the meme coin sector lately. Dogecoin, Shiba Inu, and Floki have all shown impressive upward trends over the past week, fueled by a resurgence in the meme-driven narrative.
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2024-11-11 21:38