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.
