Record $121 Bln Crypto Market Cap Comes As Bitcoin Share Dwindles
Cryptocurrency has surged to a new all-time high market cap of $121 bln but Bitcoin dominance is waning.
The overall cryptocurrency market cap has surpassed $120 bln for the first time, reaching a new all-time high.
Data from Coinmarketcap for Tuesday shows the combined value of every cryptocurrency on its listings is $121.1 bln.
In the 24 hours to press time, a further $4.3 bln worth of cryptocurrency changed hands on major exchanges tracked by Coinmarketcap.
Crossing the $120 bln line comes only two months after the cross-crypto cap made history in passing $100 bln in June.
A subsequent dip saw numbers go as low as $63 bln in July before a dramatic reversal saw $100 bln achieved once again Aug. 1, the date of the Bitcoin Cash fork.
The recent action has not gone unnoticed, cryptocurrency entrepreneur Tuur Demeester tweeting the news.
Meanwhile, Bitcoin (BTC’s) dominance continues to slip, currently sitting at just 47.1 percent. Bitcoin’s share had been on the increase following June’s all-time low of 37 percent at the height of Ethereum (ETH’s) strength.
Both ETH and Ripple have since tailed off overall, Ripple losing over 75 percent of its share versus all-time highs of 22 percent.