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Total Crypto Market Cap Hits $1 Trillion

The cryptocurrency market passed a milestone figure on Jan. 7, crossing $1 trillion in market cap thanks to a sudden 24 hour rally that saw Bitcoin hit an all-time high of $38K.

  • The $1 trillion valuation is a step towards reaching the adoption levels of gold, which stands at around $10 trillion
  • Bitcoin dominates the market, representing 68.5% of all investment, while Ethereum holds 13.56% of the market
  • The digital gold narrative has gripped the wider public, with a former US Federal Reserve governor saying it appeals to younger investors in the current economic climate
  • The arrival of more institutional investors, major companies, regulation, and general adoption has lifted the market into a price range that Binance US CEO Catherine Coley says could reach $100k in 2021
  • While a major achievement, $1 trillion still only forms a fraction of the total global monetary value
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