Carried away by the price drop that occurred last night, the total capitalization of cryptocurrencies has fallen back below 2,000 billion dollars. Where is it now?
Cryptocurrency market capitalization falls below $2 trillion
With the significant drop in cryptocurrency prices, an important downward threshold was reached at the same time: the one with 2,000 billion dollars.
Depending on the amount of assets taken into account, the value changes. Thus, CoinGecko data puts $1,893 billion, while CoinMarketCap indicates $1,810 billion. For TradingView, this total crypto capitalization now stands at $1,768 billion, a drop of more than 12% in 24 hours:
Total crypto capitalization in H4 data
After testing the symbolic resistance of 2,000 billion on Sunday evening, the level finally gave way during the night, in the wake of the strong downward leg that occurred around 3 a.m. This thus sends the market back to levels that it had brilliantly exceeded last February.
For its part, BTC now sees its capitalization very close to falling below $1 trillionwhich stands at less than $1.015 billion at the time of writing.
Comparing the market to other assets in the financial sector, if BTC fails to reverse the trend, it is on the verge of being knocked out of the top 10 by Berkshire Hathaway, the company of famous investor Warren Buffet:
Ranking of the largest capitalizations in finance
👉 Also in the news — Ethereum (ETH): Gas price soared to nearly 1,000 Gwei overnight
At the time of writing, BTC is trading at $50,900, down 16.4% over 24 hours.
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Sources: TradingView, CompaniesMarketCap
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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