Bitcoin has decisively eclipsed Ethereum's market capitalization by a staggering $1 trillion, establishing a new all-time high for the spread between the two crypto titans. As Bitcoin's price hovers just above $68,000, its market capitalization has swelled to an impressive $1.35 trillion, far outpacing Ethereum's $318.32 billion valuation.
Bitcoin's market capitalization, a metric that reflects the total value of all issued virtual currency, has surged by 8.9% since October 12. This significant uptick has fueled speculation about Bitcoin's continued upward trajectory.
Glassnode's lead analyst, James Check, highlighted this milestone in an October 19 X post, emphasizing that Bitcoin's current $1 trillion market cap lead over Ethereum is an unprecedented achievement.
Bitcoin's ascent to $67,000, a feat last accomplished on July 28, coincided with its market capitalization reaching $1.34 trillion. At the time of writing, Bitcoin's price stands at $68,152.
On May 21, Bitcoin reached its all-time high market capitalization of $1.41 trillion. Notably, Bitcoin's current market cap ranks tenth among the world's assets, closely trailing Meta Platforms (Facebook) shares, which boast a market capitalization of $1.46 trillion.
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