The value of the cryptocurrency market exceeds 2.5 trillion dollars this Wednesday, May 12. The sum total of the value invested in cryptocurrencies surpassed this milestone, with bitcoin (BTC) hovering over $ 1 trillion and Ethereum’s cryptocurrency, ether (ETH) flirting with a $ 500 billion capitalization.

Already last Monday, May 10, the market had reached 2.5 trillion dollars, although it was momentarily. But now both ETH and BTC are in green numbers for the last 24 hours and seem to be pushing the rest of the market higher.

So far this year, the total market value has tripled. Data from CoinMarketCap shows that at the beginning of 2021, the total capitalization was just over $ 770,000 million. The growth has been such that, to this day, BTC exceeds that figure on its own.

With the current capitalization, only gold would have more value than the union of all cryptocurrencies among assets most valuable in the world. In second place in that ranking , according to CompaniesMarketCap, is Apple currently, with 2.1 trillion dollars.

Although the milestone reached is given by all cryptocurrencies, the truth is that in this market there are clear protagonists. Only between Bitcoin and Ether there would already be more value than Google in that list, where they would rank in sixth place.

As we have recently reviewed in CriptoNoticias, although there are more than 9,000 cryptocurrencies in circulation right now, most of the total value is in just a handful of them: 80% of the capitalization is distributed by the first 10 cryptocurrencies on the market.

Bitcoin as savings in the long term

Taking into account that bitcoin remains above a trillion dollars and its momentum this year has largely led the arrival of this milestone for the market, the main cryptocurrency seems to be increasingly consolidated as a store of value, not only for large investors.

Data from Glassnode show how the trend to saving small fractions of BTC, what is commonly known as “stacking sats” or satoshis, the minimum fraction of bitcoin.

With a graph published a few days ago, Glassnode assured that more 5% of the total supply of Bitcoins in circulation is held by addresses that have less than 1 full BTC in their holdings. And that number has only grown, as a reflection of the savings represented by holding bitcoins even in small quantities.

Bitcoin is still in command, but we are in the middle of “altcoin season”, with most of the top 50 cryptocurrencies outperforming BTC in percentage terms in recent months.

The dominance of ETH is now approaching 20% ​​of the market, while that of BTC exceeds 40%. However, the expectation is that investor capital will flow again from altcoins to BTC , awaiting new highs in this market cycle.

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