The overall market capitalization of all 10,000+ digital assets has reached a September high of $2.33 trillion as it has risen over 5% on Thursday. The crypto economy hasn’t been at this U.S. dollar value since mid-May or approximately 108 days ago, as the value has increased 83.46% since the crypto economy’s low point on July 19 ($1.27 trillion).
Crypto Economy Rises 83% in Value, But It Wasnt Due to Bitcoin
A lot of money has entered the crypto economy since July 19, and the market capitalization of all the coins in existence today is worth $2.33 trillion. Up more than 5% over the last 24 hours, the crypto economy has not been this valuable in over three months. The last time the crypto economy was in the $2.33 trillion range was May 16, 2021, and prior to that date, it reached an all-time high (ATH) at $2.493 trillion.
On July 19, the crypto economy dropped as low as $1.27 trillion and has since gained 83% in value. In fact, the entire crypto economy only needs to gain more than 6.995% to surpass the last record. At the time of writing, bitcoin (BTC) has managed to hold roughly 40.5% of the $2.33 trillion as far as market dominance is concerned. However, ethereum (ETH) has steadily moved up the ladder and now holds 19.1% of the entire crypto economy’s value.
A Variety of Lesser-Known Crypto Assets Gather Higher Market Dominance Levels
But those two leading crypto assets are not the only coins gathering gains and improving dominance levels. BTC’s dominance levels have slipped downward from 47% on August 1, 2021, to today’s 40.5% dominance. Cardano’s (ADA) market valuation represents 4.37% of the entire crypto-economy, while binance coin (BNB) has 3.7% of the $2.33 trillion value today. The world’s largest stablecoin by market capitalization, tether (USDT), holds approximately 3.01% of the crypto economy’s dollar value.
Other notable coin market caps include xrp (XRP) with 2.28% dominance and dogecoin (DOGE) with 1.78% dominance. Alongside this, many other coins have seen massive gains during the last seven days propelling their market caps higher. Ecash, formally Bitcoin ABC (XEC), is up 155.6% this week, arweave (AR) is up 116.7% in seven days, and fantom (FTM) has gained 66.4% this week. Approximately 25 crypto assets this past week have seen double-digit gains above the 10% region.
What do you think about the crypto economy’s 83% gain since July 19? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, coinmarketcap.com,
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