Crypto Market Capitalization Reaches $3.1T

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The total value of the cryptocurrency market has recently surpassed the $3.12 trillion mark, setting a new all-time high and coming close to exceeding France’s gross domestic product.

This surge was led by a 7% increase in Bitcoin, which reached a price of $89,500 on November 11. To put this into perspective, if the crypto market were a country, it would rank as the eighth largest in terms of GDP, behind countries such as the United States, China, and Japan.

In addition, Bitcoin’s market cap alone has now surpassed $1.77 trillion, which is even larger than the GDP of Spain according to the International Monetary Fund.

The last time the total crypto market cap was at $3 trillion was in November 2021, following the previous all-time high of $69,000 for Bitcoin during the 2020-2021 bull market.