The market capitalization of cryptocurrencies has reached $3.1 trillion and may exceed the GDP of France

Date:

The capitalization of the cryptocurrency market has reached a new historical high of $3.12 trillion, which is almost equal to the gross domestic product (GDP) of France. In just one day, the capitalization of the crypto market soared by 7%.

About this writes Cointelegraph. The market is growing mainly thanks to Bitcoin, whose value has risen to $89,500. If the crypto market were a country, it would have the eighth largest GDP, after the United States, China, Germany, Japan, India, Great Britain and France.

According to the International Monetary Fund, Bitcoin’s market capitalization exceeds $1.77 trillion – more than the GDP of Spain. Bitcoin’s rising prices have also pushed its market capitalization to the level of silver.

The last time the total market capitalization of cryptocurrencies exceeded $3 trillion was on November 15, 2021, when BTC reached a previous all-time high of $69,000.

The market capitalization of digital assets currently exceeds the capitalization of the technology giant Microsoft and approaches the two most valuable companies in the world – Nvidia and Apple.

Share post:

Popular

More like this
Related

Winners of the National Selection for Eurovision 2023 TVORCHI presented EP Heart of Steel

TVORCHI released a mini-album dedicated to the indomitability of...

Kostyantyn Kryvopust: “Central banks are investigating the risks and benefits of tokenization of money”

The Bank for International Settlements (BIS) has released a...

In Mykolaiv, a policeman is suspected of selling drugs through pawning

Under the procedural guidance of the Mykolaiv Regional Prosecutor's...

The newly appointed ambassador of Slovakia has started work in Ukraine

On July 5, the newly appointed ambassador of the...