The total cryptocurrency market capitalization has surpassed the 4 trillion USD mark, with Bitcoin accounting for nearly 60% and Ethereum over 10%.
The current market value of stablecoins is over 266 billion USD, primarily concentrated in US dollar stablecoins with more than 261 billion USD, reflecting stability and an important role in the cryptocurrency ecosystem.
MAIN CONTENT
The total cryptocurrency market capitalization exceeds 4 trillion USD.
Bitcoin accounts for 59.8% of the total capitalization; Ethereum slightly rises to 10.9%.
Stablecoins reach over 266 billion USD, with US dollar stablecoins dominating.
What is the total market capitalization of cryptocurrencies and what does it reflect?
Data from Coingecko as of mid-July 2024 shows that the total cryptocurrency market capitalization globally has surpassed 4 trillion USD, marking significant growth in the digital asset market.
This figure not only demonstrates the continuous growth of the cryptocurrency industry but also reflects the increasing trust from global investors. According to the CEO of Coingecko, the diversification of digital asset portfolios helps the market become more sustainable.
"The market capitalization exceeding 4 trillion USD demonstrates the strength and maturity of the global cryptocurrency industry, with investors increasingly placing their trust in this diverse ecosystem."
Coingecko spokesperson, July 2024
What is the current proportion of Bitcoin and Ethereum in the total market capitalization?
Bitcoin currently accounts for 59.8% of the total market capitalization, while Ethereum accounts for about 10.9%, indicating that Bitcoin still maintains its leading position as the main currency, while Ethereum retains its influence thanks to a robust Smart Contract platform.
The slight decrease in Bitcoin's share is offset by the increase in Ethereum, reflecting the trend of diversifying investments into different cryptocurrencies and the more varied development of the global cryptocurrency market.
How is the current market value of stablecoins?
Stablecoins play a vital role in the cryptocurrency ecosystem with a total market capitalization exceeding 266 billion USD, of which US dollar-based stablecoins account for more than 261 billion USD, becoming the main tool used to stabilize prices and provide liquidity for transactions.
The increase in the value of stablecoins indicates a strong demand for stable digital assets, supporting safe transactions and minimizing volatility in the cryptocurrency market.
"Stablecoins are not only a payment tool but also an important bridge between cryptocurrency and traditional finance, helping the market maintain stability and convenience."
Digital finance expert Le Minh Tuan, 2024
Frequently Asked Questions
What is the total market capitalization of cryptocurrencies?
The total cryptocurrency market capitalization is the total value of all circulating cryptocurrencies measured in USD, reflecting the scale and strength of the market.
What percentage of the total market capitalization does Bitcoin account for?
Bitcoin accounts for about 59.8% of the total cryptocurrency market capitalization, maintaining its position as the largest coin globally.
What role does Ethereum play in the cryptocurrency market?
Ethereum accounts for 10.9% of the market capitalization, being the largest Smart Contract platform, driving the development of DApps and DeFi.
What are stablecoins and their importance?
Stablecoins are a type of cryptocurrency with a stable value, often pegged to the USD, helping to reduce volatility and increase liquidity in the market.
What is the current market value of stablecoins?
The current market capitalization of stablecoins exceeds 266 billion USD, with US dollar stablecoins accounting for more than 261 billion USD.
Source: https://tintucbitcoin.com/tien-dien-tu-vuot-4-nghin-ty-usd/
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