Global Crypto Assets market capitalization breaks historical record, Bitcoin rise is strong.

Driven by the new highs in Bitcoin prices, the total market capitalization of global Crypto Assets reached $3.11 trillion on November 12, rising 6.8% within 24 hours, surpassing the historical high of $3.069 trillion set on November 9, 2021. Currently, Bitcoin accounts for 56.3% of the market capitalization, while Ethereum accounts for 13%.

A publicly listed company increases its holdings of Bitcoin on a large scale

On the evening of November 11, after a technology company listed on the US stock market announced it had purchased Bitcoin again, the price of Bitcoin began to rise rapidly. Starting from $82,000, the price of Bitcoin continued to climb and reached a new high of $89,000 at 7 a.m. the next morning.

The company announced that from October 31 to November 10, they purchased 27,200 Bitcoins, spending approximately $2.03 billion in total, with an average purchase price of about $74,463 per Bitcoin. This funding comes from the company's capital raised through stock sales. Currently, the company holds a total of 279,420 Bitcoins, with a total investment cost of about $11.9 billion, and an average purchase price of about $42,692 per Bitcoin. Based on the current price of Bitcoin at $89,000, the company's Bitcoin holdings have an unrealized gain of approximately $12.9 billion.

The company's stock price also hit a new high of $340 at the close on November 11, rising 25.73% in a single day. A senior ETF analyst at Bloomberg stated on social media that the company's trading volume reached $12 billion that day, which is six times the trading volume of some well-known large companies.

Crypto Assets market rises, stablecoin issuance increases

As Bitcoin prices rise, other crypto assets are generally increasing as well. Currently, the global market capitalization of crypto assets is approximately $3.11 trillion, with a rise of 6.8% in the last 24 hours. The trading volume of crypto assets in the past day is about $355.68 billion.

As the market's popularity rises, a well-known stablecoin issuer has also increased its issuance. Around 01:07 Beijing time, the institution minted 2 billion stablecoins on the Ethereum network. Its CEO stated that this is an authorized but unissued transaction that will be used for future issuance requests and on-chain exchanges. According to statistics, the total amount of stablecoins has already increased by $4.776 billion last week.

Analysis Institutions Are Optimistic About Crypto Assets Prospects

Multiple analysis institutions remain optimistic about the Crypto Assets market. Bernstein's analysts released a bullish report after the U.S. elections, recommending that investors increase their investments in the encryption industry as soon as possible. The institution expects Bitcoin to potentially reach $200,000 by the end of 2025 and advises investors to pay attention to major digital assets.

The head of foreign exchange and digital assets research at Standard Chartered Bank predicts that Bitcoin will continue to rise to $100,000 by the end of this year, potentially reaching that mark "easily" before December 27. He further predicts that by January 20 next year, the price of Bitcoin could reach $125,000.

Additionally, analysts believe that the performance of other Crypto Assets like Ethereum and Solana may surpass Bitcoin. Solana is expected to hit an all-time high before the end of the year, while Ethereum may reach a new high early next year.

Overall, most analysis institutions believe that under the current market environment, major crypto assets are expected to continue to rise, with some possibly outperforming Bitcoin.