The global cryptocurrency market capitalization has shattered records, surging above the $4 trillion mark for the first time ever on Thursday. According to Coingecko data, the total crypto market cap reached approximately $4.003 trillion, with a staggering $260.2 billion worth of crypto traded in the past 24 hours. Bitcoin continues to dominate, holding 59.91% of the total market with a capitalization of $2.39 trillion.
The monumental $4 trillion achievement comes amid a widespread rally across the entire crypto market. Bitcoin itself saw a 1.71% rise in the past 24 hours, reaching $120,134 by 11:15 p.m. on Thursday, inching closer to its all-time high of around $123,000.
More notably, altcoins have experienced even stronger gains, signaling a potential shift in momentum from Bitcoin-led rallies towards an emerging “altcoin season.”
- XRP soared an impressive 20%, surpassing its previous all-time high of $3.4 and currently trading at $3.62.
- Ether climbed 7.8% above $3,600, reaching its highest level since the beginning of the year.
- According to The Block’s price dashboard, Solana gained 6.16% to $180.6, Dogecoin added 10.52% to $0.23, and Cardano surged 14.76% to $0.86.
The altcoin rally is further fueled by crucial developments from Washington during “Crypto Week.” The House of Representatives successfully passed three key crypto bills, including the GENIUS stablecoin bill and the Clarity Act. The passage effectively sends the GENIUS Act to President Donald Trump’s desk for his likely sign-off by the end of the week.
Looking ahead, the BTC Markets analyst noted that the next technical resistance level for the crypto market lies near $4.5 trillion. However, she cautioned about remaining downside risks, particularly if spot crypto ETF flows slow down or macroeconomic conditions worsen.
