The total market capitalization for the cryptocurrency market has exceeded $300 billion for the first time.
Data from shows that the market capitalization for all cryptocurrencies is currently at roughly $300.5bn. Of that amount, bitcoin’s market cap represents the lion’s share, accounting for about $160 billion.
The move comes as the price of bitcoin , trading at roughly $9,535, according to the CoinDesk Bitcoin Price Index ().
The push above $300 billion perhaps also showcases the pace at which the market has grown in recent weeks. On Nov. 3rd, the overall market capitalization for the first time. By contrast, the market crossed the $100 billion level .
Other cryptocurrency market developments contributed to today’s market capitalization milestone, additional data reveals.
The world’s second-largest cryptocurrency, ethereum, has a press-time market capitalization of $46 billion and is currently trading at about $475, representing a price increase of more than 25% in the past week. Like bitcoin, ethereum a new all-time high over the weekend.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.