The Crypto market cap is over $3.1T and may soon surpass the GDP of France.

The crypto market capitalization has reached a new high of $3.12 trillion – and is now close to surpassing the gross domestic product (GDP) of France.

In the year On November 11, the total crypto market capitalization increased by 7% in 24 hours, reaching $89,500, mainly due to Bitcoin's sudden rise.

If the crypto market were a country, it would rank eighth in GDP after the US, China, Germany, Japan, India, the UK and France.

Meanwhile, Bitcoin's market cap alone now exceeds $1.77 trillion — more than the GDP of Spain, according to the International Monetary Fund.

In the 2020-2021 bull market, Bitcoin is tracking 15,129 coins from 1,149 crypto as the 2020-2021 bull market reached $69,000 shortly after the total crypto market cap was at $3 trillion on November 15, 2021. Exchanges.

The crypto market cap now surpasses that of tech giant Microsoft and is closing in on the world's most valuable companies, Nvidia and Apple, according to Google Finance data.

Bitcoin's price rally on November 11 once again pushed the market material higher than silver.

Speaking to Cointelegraph, 10x Research founder Markus Thielen expects Bitcoin's dominance to “remain strong” as the crypto market cap approaches $4 trillion.

Related: Bitcoin Price Hits $1M, But At What Cost? – Michael van de Pop

“We expect Bitcoin's dominance to remain strong as the current rally is mainly focused on Bitcoin and extends to Ethereum and Solana.”

“We expect Bitcoin to reach $100,000 before the end of the year.”

A $100,000 bitcoin price would put the market cap at nearly $2 trillion.

Thielen believes that few Solana-based tokens will outperform the market and expects many high performers from the 2020-2021 bull cycle.

Bitcoin is currently trading at $89,478 — up 11% in 24 hours and within striking distance of surpassing the $90,000 mark.

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