November 12, 2021

The cryptocurrency market cap has surpassed $3 trillion, with Bitcoin nearing an all-time high.

On Monday, the overall value of the cryptocurrency market surpassed USD3 trillion for the first time, with Bitcoin trading near an all-time high.

According to data from digital asset price-tracking website CoinGecko, the market value of cryptocurrencies was about USD3.03 trillion at 12:05 p.m. EDT.

This year, the market has nearly doubled in size, as interest in decentralized finance, nonfungible tokens, and gaming has increased, as has demand for digital assets.

At the time, the price of Bitcoin, the world’s largest cryptocurrency by market capitalization, was around USD66,250, barely shy of its all-time high of USD67,000 set on Oct. 20.

Bitcoin’s market capitalization surpassed that of numerous US internet titans such as Tesla and Meta, formerly known as Facebook, with a market capitalization of about USD1.3 trillion.

Ethereum was the second most valuable cryptocurrency, valued at USD566 billion, surpassing the market capitalization of investment bank JP Morgan Chase, and it hit a new high of USD4,796 earlier Monday.

According to CoinGecko, Bitcoin and Ethereum’s domination of the whole crypto market was 41.3 percent and 18.7 percent, respectively.

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