The cryptocurrency market reached $3 trillion with bitcoin, ethereum and dogecoin boost.

As a result, Bitcoin has already surpassed the global capitalization of the silver market, for example.

Also some altcoins are contributing to the growth of the value allocated to digital currencies.

3 trillion dollars and going up

The capitalization of the entire cryptoactives market reached the $3 trillion mark as a result of the boost from bitcoin, ether and dogecoin.

Monday (8), the total capitalization of the cryptoactives market exceeded the value of $3 trillion for the first time, according to the main altcoins – which are alternative cryptocurrencies to bitcoin – experienced big gains.

According to crypto research platform CoinGecko, which currently tracks more than 10 currencies across 517 trading platforms, the market capitalization of all assets increased 4,1% on the last day, reaching US$3,019 trillion.

Dogecoin helps market surpass 3 trillion

Among the leaders in the current valuation is dogecoin (DOGE), which reached a local high of $0,292 on Monday before returning to $0,281. Even so, it's a daily rise of 7%, making the “meme coin” the best performing asset among the top ten cryptocurrencies.

Dogecoin had very variable weeks and, on several occasions, was even defeated by shiba inu (SHIB), another “meme coin” influenced by a puppy that became famous in the last year.

New Ethereum High

Ethereum (ETH) also became the center of attention. The second-largest currency in the market hit a new record high of $4.782 on Monday.

Ether, which has risen 2,9% in the last 24 hours and 990% since the beginning of the year, is currently in charge of approximately 18,7% ($563,4 billion) of the total capitalization of the cryptoactive market.

Bitcoin towards historic highs again

Bitcoin is also on the rise, registering a growth of 6,4% on the last day, according to CoinGecko.

The world's oldest cryptocurrency traded between $61 and $63 over the past week before reaching a growth of $66.362 on Monday.

Thus, being very close to its record high of US$67,276 recorded on October 20, the BTC has increased 22,5% in the last month and 346,6% since the beginning of the year.

As the value of the network is above US$ 1,248 trillion, the main cryptoactive is owning approximately 41,39% of the entire market.

Coincidence or not, today's price rose shortly after Barry Silbert, who is CEO of the Digital Currency Group (DCG), tweeted that he expects it to be “a big week” for cryptocurrencies and his tweet secured nearly $19 thousand likes and 2,2 retweets.

DCG, which is the parent company of Grayscale Investments and Genesis Trading, is among a dozen other companies seeking to gain consent to list an index fund (ETF) backed by bitcoin rather than bitcoin futures contracts.

Last week, DCG also unveiled a massive $700 million investment with notables like Softbank and Alphabet Inc. (the parent company of Google), which is what took the company's valuation to $10 billion.