The Cryptocurrency Market Stronger Than Apple

By: Bharggavi Ssayee

April 16, 2021 2:14 AM

If there's one thing we've all understood, it's that cryptocurrency is booming! However, it is not always easy to quantify the scale of the current movement. A glance at the total capitalization of the crypto market gives a clearer picture.

Cryptocurrency weighs more than the biggest company in the world!

The capitalization of a listed company is equal to the sum of the shares held by its shareholders. For crypto, it's more or less the same. The overall capitalization of the crypto market is calculated on the amount held by all crypto investors.

With the boom in crypto prices in recent months, the market capitalization has therefore logically increased significantly. According to data from Coinmarketcap, it even recently hit a new high of around $ 2.24 trillion. This means nothing to you ? For comparison, you should know that with such a capitalization, the crypto market has just passed the biggest company in the world, namely Apple. At the same time, in fact, the capitalization of the American giant stands at $ 2.2 trillion.

Other giants like Microsoft, Alphabet (Google), Amazon or even Tesla are now several “billions” behind crypto! Of course, it's hard to compare an industry like crypto with a business. However, these figures make it possible to quantify the exceptional progress of the crypto market in recent months.

Capitalization of the booming crypto market, why is it important?

The record capitalization of cryptos benefits the entire industry. In what sense? By becoming an essential market, the credibility of cryptos is strengthened with the general public. In addition, the more important the market becomes, the more difficult it will be to stop or… to regulate severely.

It's also interesting to note that the capitalization boom is not just due to a single crypto. Concretely, even if Bitcoin pulls the market up, it is not alone responsible for the market jump. We are seeing the emergence of other cryptos (altcoins) that are generating enthusiasm among investors and lessening the dominance of Bitcoin. In addition to increasing, the crypto market is therefore becoming more robust by being less dependent on Bitcoin.

With the recent IPO of crypto giant Coinbase, there is no doubt that the market capitalization of the crypto market will continue its momentum and reach new heights.