Bitcoin Surge Pushes Total Cryptocurrency Market Cap Beyond $2 Trillion

Market Cap Surpasses Nvidia, 3rd Largest in US
Ethereum Also Exceeds Samsung Market Cap

Thanks to the recent rise in Bitcoin, the total market capitalization of cryptocurrencies has surpassed $2 trillion.

According to U.S. cryptocurrency exchange Coinbase and others on the 27th (local time), as of 1:30 PM Eastern Time, the total market capitalization of cryptocurrencies was recorded at $2.14 trillion (approximately 2,850 trillion KRW). This is the first time in over two years since December 2021 that the crypto market cap has exceeded $2 trillion.

[Image source=Yonhap News]

The total market capitalization of cryptocurrencies surpasses that of Amazon ($1.799 trillion), Alphabet ($1.723 trillion), and even Nvidia ($1.984 trillion), which ranks third in market cap on the New York Stock Exchange.

Bitcoin's price has risen more than 30% just this year. Ethereum, ranked second in market cap, has also increased by over 40% this year, surpassing Samsung Electronics' market capitalization.

Bloomberg reported, "With $6.1 billion (approximately 8 trillion KRW) of net inflows into the Bitcoin spot exchange-traded fund (ETF) that started trading in the U.S. on the 11th of last month, demand for Bitcoin is expanding," adding, "The upcoming halving event is further fueling optimistic sentiment."

This content was produced with the assistance of AI translation services.