Markets
Cryptocurrency experts predict that the total market capitalization will reach $15 trillion
Although many resources in the cryptocurrency the industry is consolidating previous gains and the total market capitalization of cryptocurrencies is doing the same following a deep correction, a famous cryptocurrency expert has predicted that the total cryptocurrency market The maximum limit could reach a staggering $15 trillion.
Specifically, professional cryptocurrency trader Michaël van de Poppe recently noted that the total market capitalization of cryptocurrencies was consolidating after a 25% correction and that this included a “50-70% on altcoins,” according to his detailed analysis published in a X post on May 25th.
With this in mind, van de Poppe predicted that the market could expect “further consolidation before a clear break from the all-time high,” expressing his view of “a total market capitalization reaching $15 trillion,” on which would suggest a 484% rally from cryptocurrency the current market capitalization of the sector.
Analysis of the total market capitalization of cryptocurrencies. Source: Michael van de Poppe
Like the analyst observed most recently, the cryptocurrency arena is currently waiting for S-1 documents for the approved spot Ethereum (ET) exchange-traded funds (ETFs) which would finalize the approvals and possibly precede the “continuation on the markets in a strong manner”.
Last week was a great week for #Crypto.
We are currently waiting for the final approvals: the S-1 documents for the Ethereum ETF.
Once that is done, we will see a continuation in the markets in a strong way.
— Michaël van de Poppe (@CryptoMichNL) May 27, 2024
Cryptocurrency market capitalization analysis
Meanwhile, the total market capitalization of all digital assets at the time of writing stood at $2.57 trillion, suggesting an increase of 0.07% in the past 24 hours, an advance of 5.76% in the previous seven days and a gain of 11.26% on the monthly chart. adding up the growth of 54.82% since the beginning of the year, according to data from May 27.
Among digital assets that could help the entire cryptocurrency arena reach its expected total market capitalization could be Aptos (APP), which recently set a record in daily transactions, and Render (RNDR), fueling the success of artificial intelligence (TO THE) giant Nvidia (NASDAQ: NVDA), AS Finbold reported May 26.
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