The crypto market is now worth more than $1 trillion

Cryptocurrency
(Image credit: Shutterstock)

The combined value of all major cryptocurrencies has exceeded $1 trillion for the first time since their arrival on the scene in 2009.

According to an index maintained by CoinGecko, which tracks the price of 6,129 distinct coins, the total crypto market capitalization is up roughly 8% in the last 24 hours and has now outstripped the previous high of $760 billion by a significant margin.

The world’s first and most famous cryptocurrency, Bitcoin, is responsible for 67.7% of the market’s value, followed by the currency of the Ethereum network (ETH) at 13.3%.

Crypto market capitalization

The arrival at this new milestone can be attributed in large part to the spectacular rise in the price of Bitcoin in recent months, although groundswell has also seen many altcoins appreciate in price.

Bitcoin is currently hovering at a valuation of circa $37,000 per coin, up from just $14,000 at the start of November, while ETH has broken the $1,000 mark for the first time since 2018, recording a price increase close to 800% in the last twelve months.

Rising confidence in cryptocurrency is also demonstrated by institutional investment. In recent months, insurance giant MassMutual has purchased $100 million-worth of Bitcoin and tech firm MicroStrategy has converted most of its balance sheet (circa $500 million at the time of initial purchase) to the cryptocurrency. It is thought to be just a matter of time before institutional investors pile into Ethereum as well.

However, while commentators believe Bitcoin could settle at a far greater valuation in the long-term, the consensus is that this latest run will be followed by a significant correction, posing a risk for investors unlucky enough to come in at the peak.

As many found out the hard way in 2018, the difficulty is in predicting precisely when a bull run such as this has run its course, and so caution is advised.

Joel Khalili
News and Features Editor

Joel Khalili is the News and Features Editor at TechRadar Pro, covering cybersecurity, data privacy, cloud, AI, blockchain, internet infrastructure, 5G, data storage and computing. He's responsible for curating our news content, as well as commissioning and producing features on the technologies that are transforming the way the world does business.

Latest in Software & Services
TinEye website
I like this reverse image search service the most
A person in a wheelchair working at a computer.
Here’s a free way to find long lost relatives and friends
A white woman with long brown hair in a ponytail looks down at her computer in a distressed manner. She is holding her forehead with one hand and a credit card with the other
This people search finder covers all the bases, but it's not perfect
That's Them home page
Is That's Them worth it? My honest review
woman listening to computer
AWS vs Azure: choosing the right platform to maximize your company's investment
A person at a desktop computer working on spreadsheet tables.
Trello vs Jira: which project management solution is best for you?
Latest in News
An image of the Nintendo Switch 2
Nintendo Switch 2 pre-orders will start on April 2 according to Best Buy Canada
Person printing
Microsoft’s latest Windows 11 update exorcises possessed printers that spewed out pages of random characters
Pro-Ject A1.2 in black, playing a vinyl record in a hi-fi listening room
Pro-Ject's new fully-automatic turntable could be the buy of Record Store Day 2025
Intergalactic: The Heretic Prophet
Intergalactic: The Heretic Prophet reportedly won't release until after 2026, as Neil Druckmann says that staff 'are playing it at the office' right now - but I don't think I can wait that long
Screenshot from action RPG soulslike Lies of P
Lies of P Overture won't elaborate on the game's eyebrow-raising post-credits twist, and I think that's good news
Nintendo Switch 2
The Switch 2 launching with a Mario Kart game 'is very unlike Nintendo' compared to the original Switch releasing with Breath of the Wild, says former marketing leads: 'That's what's gonna make you want to buy the new hardware'