CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Crypto market cap hits $3trn for the first time in history

By Daniela Ešnerová

12:35, 8 November 2021

Bitcoin coins
Crypto market marked a new record Monday – Photo: Shutterstock

The value of all cryptocurrencies combined has now surpassed $3trn (£2.22trn) for the first time ever, according to CoinGecko count. The website’s pricing shows that the total cryptocurrency market value jumped 4.1% over the last 24 hours to $3.01trn.

The sector’s new record-high was driven by record-breaking rallies of several major alt-coins, as well as bitcoin nearing its own all-time-high. Bitcoin reached as high as $66,571.63 in the last 24 hours, according to CoinGecko,  just 1.06% below its record of $67,276.79 from 20 October, as recorded on the CoinGecko website.

The $3trn mark was helped by handsome gains registered by three of the top 5 biggest coins by market capitalisation. The second-biggest cryptocurrency, ether, climbed to a fresh high of $4,782.42 in the last 24 hours, according to CoinGecko's count. 

Binance coin and solana, third and fourth cryptocurrencies by market capitalisation, slipped over the last 24 hours of trading but were still up 22.7% and 21.4% respectively over the last seven days.  

How much can change in a year?

Last year brought impressive gains for the up-and-coming asset class. CoinGecko’s data show that bitcoin was trading only at $14,818.46 on this day a year ago — meaning the flagship cryptocurrency blew to a whopping 349.24% in the year. 

ETH/USD

3,301.84 Price
+1.620% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

XRP/USD

0.59 Price
-0.460% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

BTC/USD

59,054.25 Price
+3.900% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

UNI/USD

10.70 Price
-1.190% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.08964

Ether, which was worth $435.42 a year ago, according to CoinGecko, grew more than tenfold in the year. 

Binance coin, which was trading at $27.69 on 8 November 2020, reached $668.45 a year later — representing a massive 2,314.04% increase.

But the biggest yearly surge out of the top 5 biggest digital tokens was registered by solana, which jumped a mindblowing 12,439.90% from $2.03 just a year ago to today’s $254.56.

The fifth-largest cryptocurrency by market capitalisation, tether, is a so-called stable coin, which is intended to mimic the dollar’s value, and as such is not meant to move in value.

Rate this article

Related reading

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 580.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading