Bitcoin Forum

Following the upward trend in the crypto currency market, the total value of the crypto currency market set a new historical record and was near $2 trillion.
According to CoinGecko and CoinMarketCap, the total market value of crypto currencies on March 31 exceeded $ 1.9 trillion. The total market reached $ 1.99 trillion earlier in the day, setting a new record in history.
After the next correction, the total value of the cryptocurrency market fell slightly to $ 1.89 trillion at the time of writing.
The crypto currency market has surpassed Saudi oil giant Aramco, the world's second most valuable company after Apple, to reach its all-time high. According to TradingView, Aramco’s Saudi is worth about $ 7 trillion, or $ 1.86 trillion at the time of writing.
After surpassing Google's market cap of $ 1.4 trillion in February, it now surpasses the world's largest companies, including Amazon and Microsoft. At this moment of writing this post, the market value of Amazon and Microsoft is $ 1.5 trillion and $ 1.7 trillion.

Source: https://cointelegraph.com/news/total-crypto-market-capitalization-posts-new-all-time-high-above-1-9t

that is not the total "value" it is the total "market cap".
market capitalization can only represent value if every single coin (supply) in this entire market was real and has been bought. when coins have massive premines and huge amounts of supply that is never entering circulatation that means that supply must never be considered in calculation of the market cap while it is.

for example you can create a coin that has a supply of 1 trillion coin and only sell 100 of it on the market. assuming each coin could get the price of equal to $1 that means you have created a coin with a market capitalization equal to $1 trillion while the real market capitalization is actually $100.
unfortunately this is the case for 90% of the altcoins!

for this reason this market can not be compared with other markets for example you can't compare it with Google because when Google's market cap is $1.4 trillion every single piece of share is accounted for. they can't create any out of thin air.

I think you mean cryptocurrency market capitalization. Yes it is getting to $2 trillion.
It was around $1.88t when I checked hours ago but now presently at $1.90t with 3.13% decrease, meaning it was more than $1.90t earlier.

This is the breakdown below (https://coinmarketcap.com/)

Like those before me pointed out, what you're actually talking about is the market capitalization which is actually just a potential figure if all the coins in the crypto currency market were to be sold. In reality, this figure is not true because of the so many altcoins popping up everyday that are actually shit coins.
It'd be wrong to compare the capitalisation of the crypto market to Google and Amazon where every penny is real and accounted for

It fills me with optimism to review this data every time I visit my favorite website Coingecko. This figure remains on the rise as we know due to the rising price of bitcoin, ether and all Cryptocurrencies. Hopefully we continue to see the growth of our ecosystem and earn more capital from investors.
The ecosystem grows every day but only those projects that demonstrate their work and that satisfy the needs of the users will survive.

Yes, you are right. Thanks for pointing this out here. Seems that we are fixated with figures that we forget the behind the scenes kind of thing. While we love to compare Bitcoin with other top global corporations, we have to remember that those entities are having real products and services which can not really be compared with Bitcoin. I am not saying that Bitcoin has no value but I think cryptocurrency must be belonging to another category.

This not only makes the market capitalization a very deceiving metric it also artificially lowers the bitcoin dominance, right now according to most websites the bitcoin dominance is close to 55% but that is completely false, the real market dominance of bitcoin is above 90% especially if we do not count centralized currencies which go against the most basic principles of this market, this creates the illusion that altcoins are a lot more popular than what they actually are making more people to invest in them which will not have done it otherwise.

Dam those numbers for different brands, it’s crazy! If there is anything that’s overtaking those brand is the crypto space. I believe (after reading) it is not just market cap of btc itself but the whole crypto space. So we will have to assume the total market, all the coins and money invested in all of them even if it is shit coin to form a single entity here. The only good thing is btc constitute Lion portion of the whole market and keeping it alive all the time.

Though it’s virtual, the money is still real since we have bought all the crypto by trading the Fiat for it. I’m not sure how they are taking into consideration the stuff where btc to alt or alt to btc swap occurs? But in any case it is still health market.

When you talk about an entire market, I think that it should not be compared to companies such as Google or Apple, because the cryptocurrency market contains thousands of companies that each own a specific coin and therefore I think that the comparison here is not accurate, in my opinion the cryptocurrency market should be compared with the global money markets Thus the scale will be more accurate.
Also, the market value of cryptocurrencies is volatile and not fixed like monetary currencies, it is true that it has risen a lot now, but if the correction comes and the value of the currencies decreases, the market value will decrease dramatically as well.

I don't know whether market capitalization of cryptocurrencies can be take as an accurate figure, because in case of Bitcoins the lost coins (which may amount to up to 20% of the circulating supply are included within this figure). And in case of many of the altcoins, the market cap figure is artificially kept high, due to the promoters keeping their holdings in cold storage and not in free-float (this is especially true in case of altcoins such as XRP).

For me personally, whether this achievement is accurate or not, I am very happy because the crypto space is a part that will be reckoned with in the future. and this is still the beginning to become a leader based on a market capitalist. We are happy as crypto users, even if in reality these figures are inaccurate. I still believe that data can always be manipulated.
Regardless of the calculation in the past year, we believe cryptocurrency will lead the world in the market industry.

Firstly I do not think that we would be able to calculate the market value of cryptocurrencies that easily. There are many things that are uncertain and this would not only be arbitrary but this is just the price that one can perceive.

You cannot do here :
Total Number of cryptos × Price , then find a summation of all the cryptos out there.

This is not how it would work. We do need different methods since there are many  cryptos whose value might reflect differently. There are lost coins also. If we do believe the stats surprisingly 20 million coins are lost forever. (in BTC only)] ( but that also serves dual purpose , they are more like HODL situation here )

Plus I think we also have to introduce the scope of future here since the value would this way change every second. But you know they are tackling the biggest markets if we go according to the conservative calculations. So kudos.

brew master is right

a kind of more fair valuation would be to take all the UTXO and to 'price' each coin based on when it last moved as most people 'value' coin when then send/receive it

at the moment the 18,673,250 coins in circulation has a utxo movement value total of about $328bill

(research: realized cap)

7 trillion in Saudi Riyal? (also Saudi's Aramco)

So far only 18.6 million bitcoin has been mined out.

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$2 trillion is really good, it shows how much we are progressing. I used to think that Apple was worth around $1 trillion until I saw this post and decided to check it on Google and now I come to know they worth up to $2 trillion and that’s really huge.But I believe the cryptocurrency market will be passing that worth in a short time. Then we will start looking at each cryptocurrency, which would be the first to reach the trillion mark, I know for sure that it’s going to be Bitcoin. As for altcoins I don’t know which one is going to cross that mark first, although there is more possibility that it will be Ethereum.

Slightly more than half is due to Bitcoin which currently holds $1.08T. A good website to compare market caps is this one:

https://companiesmarketcap.com/assets-by-market-cap/

When we reach $100k in price we will have surpassed Silver, Google and Amazon market caps, provided that they don't change much from now until then.

Thats bull run has imporoved our industry drammaticly, hah

Does that matter? The Bitcoins bought at mere cents during 2011, and HODLed can be sold at the current market price today. That would make sense if ONLY those 2011 coins, or whatever year they last moved, can only be sold for the last price they last moved.

Is it value or market cap? These two parameters are entirely different. Market cap is not the correct way to measure the strength of the crypto market. It is just a tentative indication of the financial strength of a particular asset.

But it is a good news generally  it shows the in reasee adoption and awareness about the cryptocurrencies among the mass which is greatly required. With the next halving in mind, I am sure this value or market cap will further increase and probably reach the next trillion dollar milestone pretty soon!

So are you saying that market caps are not real in Crypto, because there is no delisting service for altcoins that are no more active. okay thats an idea on on its own

No, he's (avikz) not saying market caps are not real in crypto and he seems to correct the OP that crypto market value is hard to calculate which I believe he right because the trade is done on OTC are not available to the online market.

Bitcoin's capitalization makes up a large portion of the entire market, and every Bitcoin volatility affects the entire crypto market. The more cryptocurrencies are created the more crypto market capitalization increases. In the past year, DEFI has contributed significantly to the growth of the cryptocurrency market. I think crypto will soon enter real life and replace paper money. If the real world accepts cryptocurrencies even more, then I believe the overall market cap will increase faster.

Well.. Bitcoin still makes up more than half of the total market cap. But Bitcoin dominance has been decreasing for some time now. There has been a 12%-15% decrease during the last 6 months or so. Altcoins (especially ETH, LTC, ADA, BNB and DOT) were responsible for most of this decrease, but a notable contribution also came from stablecoins such as USDT, BUSD and USDC. And this is what makes me nervous. Some of the stablecoins seems to be no better than the fed, and they are printing money out of thin air.

you have no clue.. i guess you did not research realized cap.. typical

people dont sell at a loss.. and when those at break-even/profit do sell, the new buyer values the coin at the price they bought it at
todays $59k wont remain at $59k if everyone was to sell their coin.. the 18mill coins are not all worth $59k

ill try to emphasise this three times to avoid your misunderstandings requiring me to repeat basics again
emphasis: not all coins will get the todays price of $59k
emphasis: coins are not all equally at a price of $59k
emphasis: those selling will only sell if they can atleast break even/profit


what you realise is as the price goes down people stop selling if its less than the price they paid for it.
^i wont repeat it but read the above line in your head three times

so if the price went to below $10. only the people buying 2012-2009 would still sell
everyone else will hold

these basic facts of trading. lean into things like 'support lines' and valuations

i hold btc from 2012 when coins were $6.. and i dont actually care bout todays price as i automatically know that i could profit even if the price tanks down by 99.98%
the value of btc is always the value when it has sold. .. i have not sold. so i have not valued btc at $59k

someone buying in February at $60k wont be selling while bitcoin is below $60k.
they hoard and keep a $60k value in their mind even when the price went down to $55k last month

i think you may need to spend some time on a term called 'realized value'..
learn the psychology of things like 'buy low sell high'. 'never sell at a loss'.'hoard'. 'hodl'

i mean i did give a little hint in the end of my message about researching realized value

I do not care if the lower ends do not worth what they say it worths. However the top 10 coins worth over 1.5 trillion dollars right now. That is more than enough type of proof that we are in a great market right now and I think it will definitely worth 2+ trillion dollars as well (only the top 10). Sure there are places that changes the prices and volumes and whatever but the reality is that if you go to binance or any other place you will realize that those coins do worth that much there as well and you will end up with the same valuation for the market caps.

This is why I do not think that it should matter that much and we should not be worried about the fake ones. I mean how can you doubt how much marketcap bitcoin has, it is obvious that it worths a lot and it is quite proven that it does worth that much money and there shouldn't be any doubt in your mind.

When times come, freedom will be given to anyone who deserves it. Make yourself worthy by investing some of your money in bitcoin and you will never regret it. Soon, bitcoin will become a religion that easily surpasses apple and leaves a long distance behind. The fertility in cryptocurrency is limitless which drives big boys (by saying big boys, I mean big companies, firms, etc) to join the race of accept and support bitcoin

According to my expectation, the crypto market will reach $3 trillion by the end of this year and creates a variety of jobs. So I believe it is best to start learning bitcoin, blockchain, smart contracts, and nft. The possibility of earning has not yet sealed and this trend might last for decades. Be a smart investor by investing money in the market and by obtaining new knowledge to value ourselves

It all talks and varies with adoption because we wont see sudden spike or increase on overall total cap if it isnt really happening and thats we do all need.

Recognition and acceptance even though not as a whole because not every government will really be looking the same positivity towards this market.

I didnt even thought that this market had reached out $2 Trillion as if we're just hovering around $200B wayback when the market is still on the bearish run
but well everything wont really be like that on forever.

Cryptocurrency is becoming more and more needed by the people, this will further advance and hasten its global reach and adoption. One of the signs it's happening is the market cap for the industry, as we near $2 trillion, people are going to be more FOMOed to not add a few cryptos in their investment portfolios, probably even have crypto as their first assets to be owned. To me, this sparks a very great future for the industry, can't wait for what we have in store in the future.

FOMO was there in 2017 as well. But it didn't turned out well for the ordinary investors. A lot of people accumulated BTC at $15,000-$20,000 levels and the prices fell to $3,500 per coin in less than six months. I don't think that the situation we had in 2018 will repeat, but investors need to make sure that they are investing only as much as they can afford to lose. And I do see a lot of people making investments with little known altcoins. These people need to be extra-vigilant.

Then it’s not “realized cap”. It’s merely UNREALIZED because it’s all based on assumptions IF they do sell. But they’re not selling. NOTHING is realized.


Another mere assumption from you. Some do sell at a loss. It’s a fact about trading.


Realized value is the amount of money anyone can get from the sale of an asset. It doesn’t matter if it has a net gain or a net loss.

Moreover, many novice investors tend to be greedy with their dreams without thinking about the risks. and if they choose the wrong altcoin they will be sure the money will turn to ashes, therefore we must be careful and share the risk, so that it does not fall

As more people see the potential of decentralization, more will probably be joining this great technology. This trend will probably go for years to follow and probably be reaching 100's of Trillions.

Feeling great to know that cryptocurrency market capacity reached this position. Crypto had to suffer to arrive here. Maybe in this, some altcoin is not genuine so the original market is less than conveyed.  Having all the limitations cryptocurrency gained much and will go far away.

It is not crypto that has suffered. On the other hand, the cryptocurrency users went through a lot of harassment and torture for trying to popularize cryptocurrency. In India, a Bitcoiner was arrested in Bangalore, for trying to install a Bitcoin ATM. He spent a few days in jail, and his mobile phones and laptops were seized. Many of them fell victims to hacks and scams, losing their hard earned money in the process. I have myself lost large number of coins to various scams and Ponzis (mostly in 2013).

Im not suprised if the market value of Crypto has reached its new record. We can see the Crypto trend has been hype for several years. Some of my friends have been familiar because of Crypto, even when they were students at college, they have earned some profit as their passive income from trading Crypto. Now, they have been more success and richer than before. This is one of reason why the Crypto become a trend, This Crypto market have given many answers to everyone that they can earn double profit and become rich. My friend told me that he enteres this market with only 75$ as capital and his capital doubled just for one month and be 1400$. The story has suprised me a lot.

I can't say I am surprised either! It's something that we waited for to happen, and the only thing we can say now is that another record is broken and we are now heading to 10 trillion... and of course, we know that after breaking 10 trillion we are heading even higher! It's crypto, never sleeps, always working, developing... and for that crypto is rewarded with more attention and affects us all to create new goals!
I will add it was inevitable (like Elon Musk tweeted), therefore it's just a question of time when we will see new records!

REALIZED value is not 'the amount they can get from the sell'
REALISED value is the value the coin was when the coin moved to their custody


your weirdly stuck in the SELL price mindset
realised value is about the receipt price aka buy price

its not about the seller.. its about the buyer

its not a previous sellers decision price or desire price or exit price
its the new buyers entry price.

try to learn the difference

I got the meaning of Realized Value according to these definitions.

https://www.myaccountingcourse.com/accounting-dictionary/realizable-value


But I believe the concept of “Realized Value” is misapplied. There might be such thing as Realized Value to find the real Market Capitalization of an asset. I want to learn, can you post links on the concept?


But if the owner of the asset only holds, it’s unrealized value, and the price the current buyers are willing to pay for them is either higher or lower. Bitcoins purchased at $10.00 during 2011 - 2012 is not $10.00 anymore.

Indeed, the capitalization of cryptocurrencies is growing and this is far from the limit. This is facilitated by the situation prevailing in our time, namely the difficult situation in the financial and economic spheres. Many people and companies that have savings are now worried about what is happening and understand that they may lose their savings and assets. To solve this problem, they are looking for alternative sources of investment to preserve and increase their capital. BTC and cryptocurrencies now look very promising and both ordinary people and large companies are actively investing in them.

You don't know what you are talking about when you said 100s of trillions because that is quitely close to impossible,  just because bitcoin is growing and it is becoming more popular among the capitalist circles doesn't mean that it will reach 100 trillion, give me one company that has that market cap and I might retract my words.

You don't need to respond to noobs posting baseless assumptions. I am getting quite impatient, as the $2 trillion market cap is not yet breached. After $60,000 per coin level for Bitcoin, this is going to be the next major milestone for cryptocurrency. But at the same time, I am not feeling very excited, as I have noticed that some of the shitcoins are also going up due to the overall hype that was created.

you really are missing the point..

take me i got my btc hoard at $6each in 2012.. and i have no exit price.. but even now i still remember my realized price

yes when i sell. i trigger the next persons realized price because thats what they bought it for

its not about the sell. its about the buy
if 80% of people with active coins have a realized buy price at say $37k+.. thats 80% not willing to sell below $37k

it doesnt matter what the price is now. its a logical fact that people dont want to sell at a loss
if you would sell at a loss.. then give trading up. you will always lose if you sell at a loss

its not about the ATH its not about current price. its not about how high they want to SELL..
its about the low and about what they are NOT WILLING to sell below

..
so lets say there was a 'bank run' (mega dip). people wont sell at a loss. they will 'hodl'.
when you realise that if 18million coins will not all equally get the current price.. you sooner you learn to not base their value on the current price. the better

market cap is a meaningless number that does not represent the actual value line someone values their coin at

i personally dont care about the $55k+ current price.
im still ok even if the price went down to $7. as i still value that as profit

All those market caps and market "value" you are writing about are overinflated due to the Federal Reserve money printing.I don't believe that Google,Facebook and Amazon are worth several trillion dollars.
The financial markets are in a total "madness mode".No wonder that the crypto market cap reached 2 trillion dollars.2 years ago,if somebody told me,that the crypto market cap will exceed 1 trillion USD in 2021,I would think that he is crazy.We live in crazy times. >:(

Back in 2018 January, the cryptocurrency market capitalization had peaked at around $800 billion. So the current valuation is not that much surprising. It is natural to have 150% rise in valuation during the last two and half years, especially for a new innovation such as cryptocurrency. But it is very difficult to predict the direction of cryptocurrency from here. A lot of people think that it is overpriced now, and they recommend partial profit booking.

The amount of money we are talking about here is basically getting close to some nations stock market, even surpassed some low economy nations, so we are basically talking about something that would be insanely high. And it happened in a year, last year we were nowhere near this level, this year we have reached all time high in the total market cap, and that is the power of bitcoin.

If we keep this up and continue to basically kick ass, we are going to have a lot more power as well and the price will be higher too. Bitcoin is being accepted everywhere and being legal and taxed and considered a currency will be the key to success. I believe we are going to end up going to 1 bitcoin 1 million dollars levels in the future, not saying that will happen today, but it will happen in the future, maybe in 10 years but it will get there eventually.

Market cap and total value are indistinguishable.  In your example, the scarcity of the coin should be taken into account when determining the what the fair value price is if the buyers are rational. If a coin has 1 trillion in existence, a rational buyer likely wouldn't be paying a dollar for the coin because as a buyer you should know that the reserves could be released at any time and devalue what you own.  Crypto investors are far from rational though, hence the disparity.

And to correct your misunderstanding, Google can create more shares out of thin air.  In fact, all the shares that Google has authorized are not trading currently.  Public companies never sell as many shares on the open market as actually exist because they may need to raise additional money by selling more shares later.  Google could release more at any time.

You think so? I can say the same for institutional investors but not others. The institutional investors are here for bitcoin and bitcoin alone and some other clone btc and Ethereum.
Ask an average person if they really care about the decentralization or the fast money. Believe, 80% will answer the money if they are honest with their answers.
Market capitalization will continue to grow more as long as new projects are been created and heavily pump because I noticed isn't just bitcoin that's longer moving the market but with the altcoins combine.

Interestingly, falsely boosted volumes were also taken into account? Is the fact was taken into account that 99% of all altcoins are air sellers

We cannot do anything about that. Total valuation of this crypto space is being calculated from the services like coinmarketcap or coingeko or similar services and I am sure there should be some other coins which are not yet listed any of these services are still existing which means that $2 trillion number might grow further as well. Overall, $2 trillion is inclusive of all real and shit coins because both are just part of this space.

(Honestly I do not have any example for a good coin which is not yet listed on any of marketcap services. I assume about this because coinmarket is charging a big fee for listing with them and I heard congeko also started asking fee for listing hence some devs who got potential might be thinking about "free listing" after proving their worth on this crypto space).

But those 99% of all coins have maybe 1% of overall marketcap.  Only few coins own most of marketcap.  Top10 coins have 80% of marketcap. Probably top 100 have more then 90%. If we should be worried about fake marketcap we should definitely look into top10 coins and forget random low marketcap scams.

It is not worth comparing approaches to the valuation of corporate assets and the crypto market. Any of the listed companies has a completely different value, yes, yes, the price is different. For example, Amazon's assessment - you can count all of its assets - from the pen of a person on guard to warehouse complexes. This will be the price of low-liquid, highly liquid assets ... But for example, in the situation with the coronavirus, when any delivery service becomes 100 times in demand, the cost of the Amazon delivery unit can be estimated more expensive than the total cost of the 3 most expensive companies. This is a commercial grade.
Cryptocurrency market capitalization is an indicator of speculative demand, trust, investment. But you cannot, having, for example, sell the whole cue ball for 1 trillion - the price will instantly collapse. Or, for example - suddenly it turns out that the private key can be easily calculated from the available data such as the public key and the wallet address - and bitcoin will instantly turn into real 0. And warehouse complexes will still have a consumer value :)

You are right. For many of the altcoins, the market cap seems to be inflated. The promoters hold 80% to 90% of all the coins, and they keep these coins away from trading. And this creates an artificial scarcity, which pushes up the unit price. And in most of the cases, these shitcoins will be traded only in one or two small-sized exchanges, which makes it easier for the promoters to manipulate them. And I have seen this inflated market cap strategy in top altcoins as well, and XRP is a perfect example.

The top ten is already like 1.6+ trillion dollars already, and I do not think that any of that could be fake, those are really big names and they are really traded that much and volume has nothing to do with the price there. The fake volume thing that some exchanges do is buy and sell from itself without changing the price of that coin to look bigger, that is the only thing, they do not really change the price or the market cap because they only care about what is going on with the volume and not the price.

This is why I am pretty sure that 2+ trillion number is correct, at the very least there could be few billion dollar differences but the reality is that we are doing fine. This 2+ trillion number means a lot, we are getting closer to gold marketcap, that means a lot because being over gold marketcap would mean that we are really both retail investors and corporate investors first choice.

for now, it may not exist but I am sure in the future there will definitely be...
Since the beginning of Bitcoin circulating I am sure 99% of people at that time would not have believed the Bitcoin market cap would reach $ 1 trillion, but over time, it is happening now. Trust me, the future is a mystery and nothing will be impossible, $ 100 trillion? maybe!

I agree with you. $100 trillion is possible. No company is able to do that but the story is different in bitcoin. Moreover, inflation will continue to push the value of crypto bigger and bigger compared with the USD.

Cryptocurrency can be considered as a disruptive technology that gains huge attraction in a short time and has the capability to alter the world on a massive scale. Not only that, bitcoin is recognized by many people around the world and they can easily access the blockchain as long as they have the internet. You might find it hard to buy an Apple or an Amazon product if you live in a third-world country but it is never hard to buy bitcoin.

In Bitcoin we trust. It will soon replace gold and become the backbone of the future decentralized economy

Market cap is never the metric you have to consider if you’re looking for the valuation of an asset.
Market capitalization is way different than the real valuation of the entire cryptocurrency ecosystem.

Before when Cryptocurrency’s market capitalization was only around $1m, we tried to do our best to see that real valuation of the market. However, it was very hard back then. But we were able to come up with an established result that the valuation of the cryptocurrency (possibly) was only 20% of $1m which is $200,000.00. And still, we were happy with the result as we all know that Bitcoin almost came from nothing. 

But this was before more than thousands of cryptocurrencies or altcoin became involved so I find it hard to apply the same principle. But if we did, the possible valuation of the entire market is now at blinking $40Billion and this is enough to be considered as a success.

But when more number of people are considering it is a is a valid metric to compare and for decision making then market cap is getting its significance among traders and investors. I agree, it is an easily manipulable metric still people are considering it as vital one before all their investment decisions. It is like how the dogecoin is enjoying its stay right now because more number of people are believing into it even it was not basically designed to solve any economic related problems but when mass adopt it, it is getting its rank in this crypto space.

The total global wealth is somewhere around $300 billion and right now cryptocurrency represents around 1% of that. You are claiming that it can be increased to 25%-33%. Theoretically you can claim anything. You can even claim that cryptocurrency can amount to 90% of the global wealth, and amount to a market capitalization of $3,000 trillion. But how much of this is possible in real life? IMO, cryptocurrency market cap can never be as large as the market cap of gold, and the latter stands at $11 trillion right now.

I think there is an error in your post where you said that the Saudi Arabian Aramco is worth $7 trillion, I guess you wanted to write 1 and not 7??? Even Apple is worth around $2 trillion ($2.08 trillion the last time I checked it), and if Apple is worth more than Aramco, then it shouldn’t $7 trillion.

The cryptocurrency market is getting close to crossing the $2 trillion mark, it is somewhere around $1.9 trillion, although recently it seems the market has kind of slowed down and might drop. But I believe that after the next halving we are going to see the market is surely going to cross that market of $2 trillion.