- Bitcoin’s market cap reaches $1.35 trillion, leading Ethereum by a record $1.03 trillion.
- Bitcoin sees 7.84% monthly gains, while Ethereum records only 3.84%.
- Bitcoin’s dominance is now 57.61%, commanding over half the total $2.35 trillion market cap.
Bitcoin has set a fresh record in the crypto space, as its market cap now surpasses that of Ethereum, its closest contender, by at least $1 trillion. At the time of reporting, Bitcoin is trading at $68,366 with a market cap of $1.35 trillion. Meanwhile, Ethereum is valued at $2,647, corresponding to a market cap of $318.68 billion.
Essentially, Bitcoin is leading Ethereum by $1.03 trillion. To put it in perspective, Bitcoin is more than four times the current valuation of Ethereum.
According to Glassnode lead analyst James Check, the current gap of over $1 trillion between Bitcoin and Ethereum is an all-time high spread, meaning such a gap has never existed in history until now.
Historical Gap Between Bitcoin and Ethereum
During the height of the market in the last cycle, Ethereum reached a peak market cap of $559.62 billion in November 2021. Meanwhile, Bitcoin peaked at $1.274 trillion around the same time, resulting in a gap of $715 billion between them.
However, on March 13, 2024, when Bitcoin achieved its all-time high market cap of approximately $1.44 trillion, Ethereum had a market cap of $488.4 billion, with a gap of $951.6 billion between the two.
The gap between the two assets became more pronounced by the day. Over $1 trillion now separates them, as Ethereum has failed to benefit fully from Bitcoin’s recent uptrend. For instance, Bitcoin is up by 7.84% over the last 30 days, while Ethereum has seen more minimal movements, gaining only 3.84%.
Notably, at its current valuation, Bitcoin’s dominance in the crypto market stands at 57.61%, meaning it commands more than half of the global $2.35 trillion market cap of the entire crypto space.
Source: CompaniesMarketCap
Moreover, Bitcoin is currently ranked as the tenth most valuable crypto in the world with its $1.35 trillion market cap, just behind Meta Platforms (Facebook) and Saudi Aramco.
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