#CryptoMarketCapBackTo3T Today, the total cryptocurrency market capitalization has officially surpassed $3 trillion, according to the latest data from CoinMarketCap and Bloomberg Crypto. This marks an important milestone in the history of the digital asset market, after dipping below $1 trillion at the beginning of 2023.

The return of the market cap to $3 trillion is driven by various factors, including:

Bitcoin and Ethereum Rebound: Bitcoin is trading above $75,000 while Ethereum surged past $4,200, triggering a massive altcoin rally.

SEC Approved Crypto ETFs: The approval of the Ethereum spot ETF following the Bitcoin ETF has created a wave of institutional investment.

Mass Adoption of Stablecoins and CBDCs: Major countries are adopting stablecoins and CBDCs as part of their official payment systems, strengthening the position of cryptocurrency as a global asset.

The Fed’s More Crypto-Friendly Policies: Lower interest rates and supportive statements regarding digital finance innovation are driving capital flows into the crypto market.

Analysts from Glassnode indicate that this surge is also fueled by increasing retail FOMO (Fear of Missing Out) sentiment, coupled with short-squeeze pressures in various altcoins such as SOL, AVAX, and DOGE.