Cryptomarket Capitalization Hits $3 Trillion Mark as Bitcoin (XBT/USD) Fluctuates at $82,300
Cryptomarket capitalization has surpassed the $3 trillion mark, with Bitcoin (BTC) holding a market share exceeding 60% amid rising demand and institutional interest.
(Bitcoin, often referred to as BTC, is the dominant digital currency and serves as a benchmark for other cryptocurrencies. Institutional interest in cryptos refers to investment by large financial entities such as hedge funds, banks, and corporations.)
On Friday, Bitcoin’s price was hovering around $82,300 as it adjusted its value. Ethereum (ETH/USD) reached $2,700, while Ripple (XRP/USD) increased to $1.70.
(These figures reflect the fluctuating nature of cryptocurrencies and their reliance on market sentiment and speculation.)
Daily trading volume reaches $250-350 billion, showcasing the significant involvement of both retail and institutional investors.
(A daily trading volume indicates the liquidity and activity within the cryptomarket, with higher volumes suggesting greater investor confidence and participation.)
The top-ranked cryptocurrencies by market capitalization are:
- Bitcoin: Leading digital asset,
- Ethereum: Smart contract platform,
- Tether: Most capitalized stablecoin,
- Altcoins: Solana, BNB, Dogecoin, etc.
(Stablecoins are cryptocurrencies pegged to fiat currencies or commodities, while altcoins refer to alternative cryptocurrencies to Bitcoin and Ethereum.)
The analysis was presented by Alexey Grishchenko, Ph.D., Professor of the Operational and Industry Management Department at the Higher School of Management, Financial University under the Government of the Russian Federation.