Crypto market cap is once again above $2 trillion (2024)

FAQs

Crypto market cap is once again above $2 trillion? ›

WASHINGTON/LONDON, Feb 14 (Reuters) - The total value invested in bitcoin surpassed $1 trillion on Wednesday for the first time since November 2021 as inflows to U.S. spot bitcoin exchange-traded funds continued to support cryptocurrency prices.

WASHINGTON/LONDON, Feb 14 (Reuters) - The total value invested in bitcoin surpassed $1 trillion on Wednesday for the first time since November 2021 as inflows to U.S. spot bitcoin exchange-traded funds continued to support cryptocurrency prices.

The combined value of the cryptocurrency market has jumped to around $2 trillion for the first time on almost two years on the back of the ETF-fueled rally in Bitcoin.

Quick Take. Analysts at Bernstein have projected the overall crypto market cap could surge threefold to $7.5 trillion by the end of 2025. Growth will be led by the Bitcoin and Ethereum ecosystems amid “unprecedented” institutional adoption, the analysts said.

As of 4:15 a.m. in New York, the overall market cap of cryptocurrencies was $3 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week.

"There's a finite supply and now we have a potentially huge increase in demand with a spot bitcoin ETF approval, so I think in five years something around $500,000 [per bitcoin] would be potentially achievable," Tom Lee, the head of research at Fundstrat, told CNBC, which would give bitcoin a market cap of almost $10 ...

If this pattern continues into 2030, the price could peak around 2029 or 2030, potentially aligning with Wood's price prediction. If Wood is correct and Bitcoin reaches $3.8 million, a $100 investment in Bitcoin today would be worth $5,510 in 2030. This translates to a compounded annual growth rate (CAGR) of over 95%.

Here's Why I Think That's Possible. Up more than 50% in 2024 and an astounding 200% since the beginning of 2023, it's safe to say crypto is officially back. Today, the collective market cap of the asset class sits at roughly $2.6 trillion.

Market Cap: $10 billion

Polkadot, abbreviated DOT, is a cryptocurrency released in 2020.

For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto's wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he's known, is now worth an estimated $33 billion, up from $10.5 billion last year.

How many crypto millionaires are in the world? ›

Key Takeaways. There are 88,200 crypto millionaires worldwide. 40,500 of these millionaires have amassed their fortune in Bitcoin (BTC). The number of global crypto owners reached 580 million by the end of 2023, according to Crypto.com.

It's unlikely that cryptocurrency, in its current form, will replace fiat currency in developed countries. However, it is possible in financially struggling nations.

We estimate that the market sentiment is currently Bullish. Meanwhile, the Fear & Greed Index is showing a reading of 68, indicating that traders are currently feeling Greed about the crypto market. According to our prediction, the total crypto market will fall by -13.17% in the next year and hit $ 2.08T.

The total market value of Bitcoin's circulating supply crossed $1 trillion after BTC's price surged above $51,000.