The total market cap of all 10,000+ digital assets hit a September high of $ 2.33 trillion, as it rose over 5% on Thursday. The crypto economy has not hit that US dollar value since mid-May or about 108 days ago, as the crypto economy has dropped by 83.46 since the crypto economy bottomed out on July 19 ($ 1.27 trillion) % has increased.
Crypto-economy is up 83% in value, but it wasn’t Bitcoin
A lot of money has been pouring into the crypto economy since July 19, and the market capitalization of all coins in existence today is $ 2.33 trillion. Up more than 5% in the last 24 hours, the crypto economy hasn’t been as valuable in over three months. The last time the crypto economy was in the $ 2.33 trillion range was on May 16, 2021, and before that date it hit an all-time high (ATH) of $ 2.493 trillion.
On July 19, the crypto economy fell as low as $ 1.27 trillion and has appreciated 83% in value since then. In fact, the entire crypto economy only needs to grow more than 6.995% to beat the latest record. At the time of writing, Bitcoin (BTC) has managed to hold around 40.5% of the $ 2.33 trillion in terms of dominance. However, Ethereum (ETH) has steadily climbed the ladder and now holds 19.1% of the total value of the crypto-economy.
A large number of lesser-known crypto assets are gaining greater market dominance
But these two leading crypto assets aren’t the only coins that are generating profit and increasing dominance. The dominance of BTC has dropped from 47% on August 1, 2021 to its current dominance of 40.5%. Cardano’s market valuation (ADA) accounts for 4.37% of the total crypto economy, while Binance Coin (BNB) accounts for 3.7% of its current value of $ 2.33 trillion. The world’s largest stablecoin by market capitalization, Tether (USDT), holds around 3.01% of the dollar value of the crypto economy.
Other notable market caps of coins are xrp (XRP) with 2.28% dominance and Dogecoin (DOGE) with 1.78% dominance. In addition, many other coins have seen massive gains over the past seven days that have pushed their market capitalization up. Ecash, officially Bitcoin ABC (XEC), is up 155.6% this week, Arweave (AR) is up 116.7% in seven days, and Fantom (FTM) is up 66.4% this week. About 25 crypto assets have seen double-digit gains over the 10% region over the past week.
What do you think of the 83% surge in the crypto economy since July 19th? Let us know what you think on this matter in the comments below.
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