The crypto market is rushing from one record high to the next and has cracked a supposedly insurmountable mark in rally mode.
It happened: Overnight, the total market capitalization of all listed cryptocurrencies cracked the magic mark of one trillion US dollars for the first time. The all-time high is the interim result of a rapid rally that was triggered by the Bitcoin exchange rate (BTC) reaching US $ 20,000 just four weeks ago. While The News Spy rose to $ 37,000 in the same period, its total market capitalization almost doubled in just one month.
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With a market capitalization of currently around 690 billion US dollars, the lion’s share of the total market capitalization is accounted for by the crypto-draft horse Bitcoin, whose dominance over the altcoins is almost 70 percent. The total value of all cryptocurrencies becomes a little more tangible compared to the largest listed companies.
If the crypto market were a public company, it would have a total market capitalization of $ 1 trillion, according to Statistacheated into fifth place among the world’s largest listed companies. The not entirely unknown US holding Alphabet Inc., formerly Google, would have to vacate the chair. As of 2019, the company had a market capitalization of 919 billion US dollars.
There is still some catching up to do up to the top 4, but the gap to the premier class is getting shorter and shorter. The market cap of the three tech giants Amazon, Apple and Microsoft is between 1.23 and 1.35 trillion US dollars. If the growth curve on the crypto market points steeply north in the coming weeks, the crypto market could also overtake this illustrious group.
However, there is still room for improvement up to the spearhead. The oil production company Saudi Aramco took first place, with a market capitalization of 1.68 trillion US dollars. The crypto market would have to put the Bitcoin market cap on top again, then the total value of all crypto assets would have won the Champions League in this fictitious calculation example.
… and shows the Netherlands the spurs
The crypto market also does well in a GDP comparison. The crypto market would take 17th place among the largest economies in the world, ahead of the Netherlands with a gross domestic product of 909 billion US dollars place.
As you can see, the crypto-economy is becoming increasingly important and can already compete with the largest companies in the world. In view of the current upward trend, more and more players from the traditional financial world are jumping on the crypto train. If this trend continues, Bitcoin and Co. are likely to become an integral part of the portfolio of all types of investors in the future.