Cryptocurrency markets have been climbing again to kick off the week, and the total market capitalization has reached a record high once again. The market capitalization for all cryptocurrencies has reached an all-time high of $2.6 trillion. This had just surpassed the previous high of $2.55 trillion that was made on May 12 when many altcoins were notching up their own record highs.
The total market cap has surged 233% since the beginning of this year.
The total market capitalization has surged 233% since the beginning of this year when it was around $780 billion. During the last cycle peak in January 2018, the total market cap reached a high of $830 billion. The entire crypto market cap is now larger than the world’s largest company. According to CompaniesMarketcap, Apple has a market cap of around $2.39 trillion, topping the chart. The second-largest firm is software giant Microsoft with $2.28 trillion.
Bitcoin is now just 3.4% away from its all-time high.
Bitcoin is currently driving all of the momenta with a gain of 2.7% on the day, 14% on the past week, and 32% over the past month. BTC usually peaks before altcoins, so their turn could come when bitcoin prices take a breather. Bitcoin is now just 3.4% away from its April 14 all-time high of $64,800. In terms of market cap, Bitcoin is now worth around $1.18 trillion, approximately 45% of the total. Compared to companies, Bitcoin is ranked sixth in the world, larger than Facebook with $915 billion but smaller than Amazon with $1.7 trillion. Ethereum represents 17% of the entire market with a capitalization of $458 billion, or about the same size as Chinese e-commerce giant Alibaba.