Markets
Crypto Expert Predicts Total Market Cap of $15 Trillion
Even if many advantages in the cryptocurrency The industry consolidates its previous gains, and the total crypto market capitalization does the same after a deep correction, a popular crypto expert has projected that the total crypto market the cap could reach a staggering $15 trillion.
More precisely, professional crypto trader Michaël van de Poppe recently observed that the total market capitalization of cryptos was consolidating after a 25% correction and that this included a “50-70% on altcoins”, according to his detailed analysis published in a Message on May 25.
With this in mind, van de Poppe predicted that the market could expect “further consolidation before a clear break of the all-time high”, expressing his vision of a “total market capitalization reaching $15 trillion”, which which would suggest a 484% rally from the crypto 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 crypto arena is currently waiting for S-1 documents for the approved location Ethereum (ETH) exchange traded funds (AND F) which would finalize approvals and possibly precede the “continuation in the markets in a strong manner”.
Last week was a huge week for #Crypto.
Currently, we are waiting for the final approvals: the S-1 documents for the Ethereum ETF.
Once this is done, we will see a strong continuation in the markets.
– Michaël van de Poppe (@CryptoMichNL) May 27, 2024
Analysis of the market capitalization of cryptocurrencies
Meanwhile, the total market capitalization of all digital assets at press time stood at $2.57 trillion, suggesting an increase of 0.07% over the past 24 hours, an advance of 5 .76% over the previous seven days and a gain of 11.26% on its monthly chart. totaling 54.82% year-to-date growth, according to data as of May 27.
Among digital assets that could help the entire crypto field reach the predicted total market cap could be Aptos (APT), which recently set a record for daily transactions, and Render (RNDR), feeding off the success of artificial intelligence (AI) giant Nvidia (NASDAQ: NVDA), as Finbold reported on May 26.
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