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Cryptocurrency News Articles

The Crypto Market Cap Has Almost Surpassed France's GDP

Nov 23, 2024 at 04:00 am

The cryptocurrency market cap has reached an all-time high of $3.13 trillion, inching closer to surpassing France's gross domestic product (GDP).

The Crypto Market Cap Has Almost Surpassed France's GDP

The cryptocurrency market has reached an all-time high with a total market capitalization of $3.13 trillion, making it one of the largest "economies" in the world. This growth is also reflected in the surging popularity of Bitcoin ETFs, which are attracting record-breaking inflows. BlockDAG, a promising Layer 1 contender, is also making waves with its cutting-edge technology and a booming community.

Crypto Market Cap Inches Toward France’s GDP

The cryptocurrency market capitalization has hit a new peak, reaching $3.13 trillion. This remarkable achievement places the global crypto market as the eighth-largest "economy" worldwide when compared by Gross Domestic Product (GDP). Surpassing major nations like France, it now trails behind the United States, China, and Japan.

This rally, largely driven by Bitcoin's surge to $97,700, has propelled its market capitalization to an all-time high of $1.77 trillion — now exceeding Spain's GDP. Analysts are optimistic that the market could approach $4 trillion, although there are differing opinions on whether Bitcoin's dominance will continue or if altcoins will lead the next wave of growth.

Bitcoin ETFs Surpass $138B, ETH Eyes $10B Goal

As Bitcoin drives the market capitalization to new heights, its influence extends further into institutional adoption through Bitcoin ETFs. Bitcoin-focused exchange-traded funds (ETFs) have now surpassed $138 billion in total assets under management, largely driven by Bitcoin's price nearing the $100,000 milestone. Over the past week, Bitcoin ETFs attracted $1.67 billion in inflows, bringing their total to $95.4 billion and marking six consecutive weeks of inflows.

Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.

Meanwhile, Ethereum ETFs followed closely, with inflows totaling $646 million, pushing assets to $9.15 billion. Analysts are now eyeing an ETH target of $10 billion in managed assets as investor interest continues to grow.

This institutional involvement, including investments from firms like Goldman Sachs, highlights the increasing appeal of focused crypto-backed products, particularly Bitcoin and Ethereum funds.

BlockDAG Sets the Standard for Layer 1 Success

While Bitcoin and Ethereum remain dominant forces in the crypto market during the current bull run, BlockDAG is carving its niche by addressing blockchain scalability and efficiency challenges.

Its advanced Directed Acyclic Graph (DAG) structure tackles traditional blockchain limitations, setting new standards for scalability and efficiency. BlockDAG, a rising star in the Layer 1 space, has completed its much-anticipated mainnet development and entered the audit phase, marking a significant step toward global readiness.

The BlockDAG community is expanding at an astonishing pace, with the unique number of holders climbing daily during this bull run. More than 170,000 unique holders have already joined from across the world, drawn by the project’s momentum and growing potential.

A hallmark of this community is its strong engagement with the BlockDAG team and the CEO, fostered through regular AMA sessions. These interactions create a sense of trust and transparency, ensuring that holders feel informed, valued, and closely aligned with the project’s vision.

The impact of BlockDAG on buyers and its community is evident from its presale numbers: over $134 million raised and over 15.9 billion BDAG coins sold. BDAG price leapt from $0.001 in batch 1 to $0.0234 in the current batch 26 — an astonishing 2240% ROI for the early buyers that makes this one of the best crypto presales.

As batches fly by, the $600 million presale target gets closer, fueling a frenzy of anticipation among BlockDAG’s community. Each passing day inches the coin toward launch, leaving behind opportunities for early access.

BlockDAG’s mix of cutting-edge technology, disciplined execution, and community-driven energy has crypto enthusiasts rushing to lock in their positions before the door to these early prices closes for good.

A Final Look

The crypto market’s rise to a $3.13 trillion cap showcases its immense potential, fueling record-breaking inflows into Bitcoin ETFs and driving Ethereum toward ambitious $10 billion targets. In the thick of the crypto market’s incredible growth, BlockDAG emerges as a game-changing Layer 1 coin.

Backed by revolutionary DAG technology, a thriving community of over 170,000 holders, and $134 million raised so far, its presale is racing toward the $600 million mark.

Once that milestone is reached, early access opportunities will disappear, making now the moment to act. BlockDAG's unmatched potential for massive returns positions it as the project not to overlook.

Presale: https://purchase.blockdag.network

Website:

News source:techpoint.africa

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