Global encryption market capitalization hits a new high, Bitcoin breaks through $89,000.

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Crypto Assets market capitalization hits a new high, Bitcoin breaks $89,000

The global market capitalization of crypto assets reached $3.11 trillion on November 12, surpassing the historical high of $3.069 trillion set on November 9, 2021. In the past 24 hours, the market capitalization has grown by 6.8%. Currently, Bitcoin accounts for 56.3% of the total market capitalization, while Ethereum accounts for 13%.

A publicly listed company purchased 27,200 Bitcoins between October 31 and November 10, with a total value of approximately $2.03 billion, at an average price of about $74,463 per coin. The company currently holds 279,420 Bitcoins, with a total investment of approximately $11.9 billion and an average purchase price of $42,692 per coin. Based on the latest price of $89,000 for Bitcoin, the company's Bitcoin holdings have an unrealized gain of approximately $12.9 billion.

The company's stock price also reached a new high of $340 on November 11, with a single-day increase of 25.73%. According to reports, the trading volume of the company on that day reached $12 billion, which is six times that of some large enterprises.

As the price of Bitcoin rises, other crypto assets are generally on the rise as well. The global market capitalization of crypto assets is currently about $3.11 trillion, up 6.8% in the last 24 hours. The trading volume of crypto assets in the past day is approximately $355.68 billion.

MicroStrategy buys another $2 billion in Bitcoin, BTC rises above $89,000, total market capitalization of global crypto assets hits a new high

In the market frenzy, a stablecoin issuer has newly minted 2 billion stablecoins on the Ethereum network. The company's CEO stated that this is an authorized but unissued transaction intended for future issuance requests and on-chain exchanges. According to statistics, the total supply of stablecoins increased by 4.776 billion dollars last week.

Some research institutions remain optimistic about the Crypto Assets market. A certain investment company advises investors to increase their exposure to the encryption industry and expects Bitcoin to potentially reach $200,000 before the end of 2025. The company suggests paying attention to spot Bitcoin and Ethereum ETFs, publicly listed Bitcoin mining companies, businesses holding Bitcoin, and crypto trading platforms.

The research director of a certain bank predicted that Bitcoin will "easily reach" $100,000 by the end of this year. He further stated that if it does not reach $125,000 by the end of the year, it is expected to reach that level around January 20 of next year.

In addition, some analysts believe that apart from Bitcoin, the performance of other tokens may be even better. They expect Solana to possibly reach new highs before the end of the year, while Ethereum may break its historical high at the beginning of next year.

A certain crypto fund management institution pointed out in its latest report that the results of the U.S. election triggered a significant rise in U.S. stocks, and investors are more optimistic about the corporate profit outlook in a tax-cut and low-interest-rate environment. Against this backdrop, Bitcoin ETFs saw an inflow of $1.728 billion in a single week, while stablecoin channels experienced an inflow of $4.776 billion, totaling an inflow of $6.504 billion, setting a record for the largest weekly inflow since 2024. The report believes that driven by strong liquidity, Bitcoin is expected to continue rising, and other crypto assets may also strengthen generally.

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HashBanditvip
· 18h ago
back in my mining days, this woulda paid for a decade of electricity bills... *cries in 2014 GPU costs*
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NullWhisperervip
· 07-25 02:16
well technically speaking... another potential bubble vector loading
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SorryRugPulledvip
· 07-25 02:16
I only made 10 points, so boring.
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GateUser-44a00d6cvip
· 07-25 02:06
Making money while lying down, don't want to go to work.
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OffchainOraclevip
· 07-25 02:06
rise to the sky again, this time it's really moist.
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TideRecedervip
· 07-25 02:03
A wave of market trends really made me go all in.
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FloorPriceWatchervip
· 07-25 01:56
Ah, even picking up money feels tiring.
View OriginalReply0
TerraNeverForgetvip
· 07-25 01:53
All in a month's salary, everyone is late.
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