Shortly after bitcoin broke above its 2017 all-time high of $20,000, most of the cryptocurrencies followed with serious gains. Earlier today, the cumulative market capitalization of all digital assets overcame the previous high by surging north of $836 billion.
- According to data from one of the leading cryptocurrency monitoring resources, CoinMarketCap, the market cap reached somewhere around $834 billion during the parabolic price increase in 2017/2018.
- However, the recent bull run within the market has resulted in a new record of $836 billion per data from CoinMarketCap.
- It’s worth noting the growth experienced within the past several months. By reaching this record, the market cap has added $140 billion since December 29th, $240 billion since December 24th, and $360 billion since late November. Moreover, the market cap was at just $330 billion in early October – meaning an increase of over $500 billion in three months.
- Somewhat expectedly, bitcoin is responsible for the largest share. The primary cryptocurrency has been on a tear since Q4 2020 and accounts for over 72% of the market cap.
- Bitcoin has skyrocketed more than 3x in value in those months. It broke above $20,000 for the first time and continued north. The cryptocurrency kept painting fresh all-time highs frequently.
- Just today, bitcoin overcame $30,000 but didn’t stop there and broke above $33,000 for its latest ATH but it has decreased slightly to $32,300 as of writing these lines. Nevertheless, BTC’s market cap has also marked a new record of over $600 billion.