- 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.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
