Altcoin drives crypto market capitalization over 3.6 trillion USD

The cryptocurrency market capitalization reached a new record, surpassing 3.6 trillion USD on December 2, 2024. This is a significant increase compared to around 600 billion USD from the most recent peak in 2021. In this context, altcoins have shown a stronger growth trend compared to Bitcoin, as Bitcoin has yet to surpass the 100,000 USD mark as expected but still plays a crucial role in driving the growth momentum of this market.

The market recovery is also supported by macro factors such as employment data and economic outlook, along with market optimism regarding cryptocurrency-friendly financial policies that may be enacted under the new administration. Coins like Ethereum, XRP, and Dogecoin have recorded significant gains, thanks to the shift of funds from Bitcoin to larger altcoins.

In fact, the total market capitalization is currently a positive sign, reflecting recovery and strong growth potential for the entire cryptocurrency industry in the coming time.