Crypto market reaches $3.12 trillion, nearing France’s GDP

Bitcoin recently gained 11% in 24 hours, underscoring its current dominance in the crypto sphere.

Crypto.com’s decision to mint 70 billion CRO tokens has sparked controversy, with critics questioning the exchange’s financial stability and transparency.

The cryptocurrency market has surged to a record-breaking $3.12 trillion, bringing it close to surpassing France’s GDP. According to the International Monetary Fund, Bitcoin’s impressive rally to $89,500 played a major role in this milestone, pushing its market capitalisation to $1.77 trillion—overtaking Spain’s economy.

The crypto market is now more valuable than Microsoft and rapidly approaching the market caps of Nvidia and Apple. Analysts are divided on what lies ahead. While some, like Markus Thielen from 10x Research, believe Bitcoin will dominate and potentially hit $100,000 by the end of the year, others, including Rachael Lucas from BTC Markets, expect altcoins to take the lead in driving the market toward $4 trillion.

Bitcoin remains the focus, gaining 11% in 24 hours to $89,478. With prices nearing $90,000, the next few weeks could determine whether Bitcoin cements its dominance or altcoins take the spotlight.