June 14, 2024

Bitcoin launches the assault against money and gold!

17h00 ▪
min of reading ▪ by
Fenelon L.

Bitcoin continues to shine among the main global financial assets. Recent data reveals that its market capitalization now rivals that of many traditional companies, approaching that of silver.

Bitcoin face a l or

Bitcoin ready to surpass silver once again

Bitcoin does not let up in its race to the crown of financial assets. In February, the queen of cryptos had managed to take the lead over silver. Although the recent drop disrupted trends, BTC does not want to give up and intends to regain the upper hand.

According to a study by Crypto Rank, Bitcoin ranks 9th among financial assets with a market capitalization of 1.33 trillion dollars, just behind silver and its 1.8 trillion.

Ethereum is not left behind, rising to 24th place with 455 billion dollars, even surpassing the giant Mastercard and its 413 billion. But the real challenge for these main cryptos remains gold, which stands at the top with a colossal market capitalization of 15.7 trillion dollars.

Bitcoin and Ethereum, a domination that is confirmed in the crypto market

Unsurprisingly, Bitcoin and Ethereum reign supreme in the crypto market with more than 70% market share combined, according to CoinMarketCap data.

Despite a total market capitalization still far from that of gold, cryptos still weigh more than 2.5 trillion dollars. Bitcoin alone represents 53% of it, with 1.3 trillion, while Ethereum captures 18% of the market with 453 billion.

This concentration gives the two leaders considerable influence: the slightest variation in their price affects the entire crypto ecosystem.

After a spectacular surge in recent months, Bitcoin and Ethereum have paused in recent days. BTC is around 67,000 dollars, down nearly 3% from its recent highs. For its part, ETH oscillates around 3,750 dollars, down 2% on the session of May 29.

Bitcoin and Ethereum may be reaching the stars, but gold still retains its throne for now. But with their growing adoption and technological innovations, there is no doubt that the two main cryptos still have bright prospects ahead.

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Fenelon L. avatarFenelon L. avatar

Fenelon L.

Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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