To begin the week, cryptocurrency markets have risen once more, and total market capitalization has reached a new high. According to CoinGecko, the total market capitalization of all cryptocurrencies has reached an all-time high of $2.6 trillion.
This has just surpassed the previous high of $2.55 trillion set on May 12th, when many altcoins were setting new records.
CoinMarketCap, a rival token analytics platform, reports a total crypto market cap of around $2.5 trillion, which is roughly the same as the previous peak five months ago.
Since the beginning of the year, when it was around $780 billion, the total market cap has increased by 233 percent. The total market cap reached an all-time high of $830 billion during the previous cycle peak in January 2018.
Crypto is now larger than the world’s largest company.
The total market capitalization of cryptocurrency is now greater than that of the world’s largest corporation. According to CompaniesMarketcap, Apple has a market cap of around $2.39 trillion, putting it at the top of the list. Microsoft, the second-largest company, has a market capitalization of $2.28 trillion.
Bitcoin is currently driving the market, up 2.7 percent on the day, 14 percent in the last week, and 32 percent in the last month. BTC typically peaks before altcoins, so their time may come when bitcoin prices fall.
According to CoinGecko, Bitcoin is now only 3.4 percent away from its all-time high of $64,800 set on April 14. In terms of market capitalization, Bitcoin is now worth around $1.18 trillion, accounting for roughly 45 percent of the total.
Bitcoin is the sixth largest company in the world, larger than Facebook with $915 billion but smaller than Amazon with $1.7 trillion.
With a market capitalization of $458 billion, Ethereum accounts for 17% of the total market, making it roughly the same size as Chinese e-commerce giant Alibaba.
Altcoins worth billions of dollars are on the rise.
According to CoinGecko, there are 108 altcoins with a market cap of more than $1 billion. The top 20 altcoins all have market caps of more than $10 billion, and the top ten all have market caps of more than $30 billion.
Binance Coin (BNB) is the third-largest cryptocurrency, with a market capitalization of $79 billion, and Tether is the fourth-largest, with a market capitalization of around $70 billion. Cardano’s ADA is currently the fifth-largest cryptocurrency, with $69 billion, followed by XRP, which has $51 billion.
Altcoins have seen little price movement in the last 24 hours as Bitcoin has dominated the market, gaining 2.6 percent on the day to trade at $62,350 at the time of writing.