🚀 Cryptocurrency market capitalization soars to $3.1 trillion, surpassing France's national GDP!
According to the latest data from Coingecko, the cryptocurrency market capitalization has exceeded $3.1 trillion, a figure that surpasses France's $3.03 trillion Gross Domestic Product (GDP)!
If the cryptocurrency market were compared to a country in terms of GDP, it would become the eighth largest economy in the world, following the United States, China, Germany, Japan, India, and the United Kingdom!
In the past 24 hours, the total market capitalization of cryptocurrencies surged by 9% in just one day, mainly due to Bitcoin's price suddenly skyrocketing to $89,500.
Moreover, according to data from the International Monetary Fund, Bitcoin's market capitalization has now surpassed $1.74 trillion, which is higher than Spain's $1.73 trillion GDP!
Looking back in history, the last time the total market capitalization of cryptocurrencies reached $3 trillion was on November 10, 2021, when Bitcoin hit an all-time high of $69,000 during the bull market of 2020-2021.
Currently, according to the latest ranking from Infinite MarketCap, the total market capitalization of cryptocurrencies is nearing tech giant Microsoft, closing in on the two most valuable companies in the world, Apple and Nvidia. Meanwhile, on November 11, with the rise in Bitcoin's price, its market capitalization has once again surpassed that of silver.
Markus Thielen, founder of 10x Research, stated in an interview that as the total market capitalization of cryptocurrencies gets closer to $4 trillion, Bitcoin's role and influence within it are expected to remain strong. He also mentioned that the current market rebound is mainly focused on Bitcoin, which may then spread to Ethereum and Solana.
Thielen firmly expects Bitcoin to reach $100,000 by the end of the year. If Bitcoin's price does reach $100,000, its market capitalization will approach nearly $2 trillion.
He also believes that some Solana-based tokens will outperform the market and anticipates that many high-performing altcoins during the 2020-2021 bull market may perform poorly.
Currently, Bitcoin's price is $89,478, having risen 11% in the last 24 hours, just a step away from breaking through the $90,000 mark.
What does everyone think? Do you believe Bitcoin can reach $100,000? Are you optimistic about the total market capitalization of cryptocurrencies approaching $4 trillion?
