Crypto markets with the day combined market cap for the first time $ 3T
With Bitcoin trading within 2% of its all-time high as Ethereum, Solana and Polkadot break into previously unknown price ranges, CoinGecko estimates that combined crypto market cap has surpassed the $ 3 trillion mark for the first time.
According to CoinGecko, total crypto capitalization hit a new high on October 20, above the previous record of $ 2.62 trillion, and is up 14.5% in less than three weeks.
Combined crypto market cap previously peaked at nearly $ 2.62 trillion on May 12 this year, before bouncing off a local low of $ 1.24 trillion on July 20, 2018.
CoinGecko data tracks 10,418 digital assets on 518 crypto exchanges.
Despite Bitcoin’s impressive price gains over the past two years, BTC’s market dominance has fallen 42.8% from its peak of 70.8% on September 6, 2019.
While Bitcoin still more than doubles its closest rival at 40.5% or $ 1.22 trillion compared to Ethereum’s 18.6% or $ 560 billion in market share, the total capitalization of all other cryptocurrencies is 40 .9% or $ 1.24 trillion – evidence of the growing diversity of the digital asset sector.
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According to Messari’s Ethereum screener, who is currently tracking 209 projects created on the network, the Ether ecosystem currently represents a market cap of $ 829 billion, or a dominance of 27.6%.