- The peak of the global market cap on April 2022 was at $2.67 trillion.
- Bitcoin individually occupies 42.31% of the $1.02 trillion.
The market capitalization of cryptocurrency is on the verge of falling below $1 trillion. The peak of the global market cap was witnessed on April 2022, with a $2.67 trillion measure. Further, post the downfall of the algorithmic stablecoin TerraUSD and its sister coin LUNA on May 2022, the market cap was lowered below $1.5 trillion.
As the market was regaining itself, and oscillating between $850 billion and $1 trillion. The next cyclone hit the shore with the collapse of FTX on November 2022. And it took three months to rise above the $1 trillion mark. On February 2023, the global crypto market stepped into the track of $1 trillion. But for the past few days, panic prevails in the market. What if the stand goes back below $1 trillion?
Market Cap Glossary
Everybody is aware of the fact about Bitcoin’s dominance in the crypto globe. The coin individually occupies 42.31% of the $1.02 trillion. Followed by Ethereum with 18.7% captivity. Following these market leaders, the stablecoins like Tether, USD Coin, and Binance USD are positioned under the Top 10 coins with large market capitalization. The percentage contributed are 7%, 4.31%, and 0.85% respectively.
The Binance USD had 8.9% growth in one year, from $14.5 B in Jan 2022 to $15.7 B in Jan 2023. Whereas, Tether (USDT) had declined 13.5%, from $78.4 B in Jan 2022 to $67.8 B in Jan 2023. The overall market shrinking didn’t have an effect on the stablecoins as they grew 5.6% in total.
DeFi coins hold a $48.64 B market cap with an 8.657% decline in the last week. The future of the crypto market cap can’t precisely forecast but the path is definitely going to be tough. Investors and traders have to put up with the hindrance of centralized agencies, Ponzi schemes, and never-sure projects.
Recommended For You
