Markets
Crypto Expert Predicts Total Market Cap of $15 Trillion
Although many assets in cryptocurrency industry are consolidating their previous gains, and the total crypto market capitalization is doing the same after a deep correction, a popular crypto expert has projected that the total crypto market the maximum limit could reach the astonishing amount of 15 billion dollars.
Specifically, professional crypto trader Michaël van de Poppe recently noted that the total crypto market capitalization was consolidating after a 25% correction and that this included “50-70% in altcoins,” according to his detailed analysis published in a X post on May 25th.
With this in mind, van de Poppe predicted that the market could expect “some more consolidation before a clear break of the all-time high”, expressing his view of “total market capitalization going towards US$15T”, which would suggest a recovery of 484% compared to cryptography current market value of the sector.
Full analysis of crypto market value. Source: Michael van de Poppe
As the analyst observed most recently, the crypto arena is awaiting S-1 documents for the approved vacancy Ethereum (ETH) exchange-traded funds (ETFs) that would finalize approvals and possibly precede “continued strong form markets.”
Last week was a big week for #Crypto.
We are currently awaiting final approvals: the Ethereum ETF S-1 documents.
Once this is done, we will see a strong continuation in the markets.
-Michaël van de Poppe (@CryptoMichNL) May 27, 2024
Crypto Market Cap Analysis
Meanwhile, the total market value of all digital assets at press time was $2.57 trillion, suggesting an increase of 0.07% in the last 24 hours, an increase of 5.76% in the previous seven days and a gain of 11.26% on its monthly chart. adding up to growth of 54.82% since the turn of the year, according to data from May 27th.
Among digital assets that could help the entire crypto arena reach its predicted full market cap could be Aptos (APARTMENT), which recently set a record for daily transactions, and Render (RNDR), feeding off the success of artificial intelligence (AI) giant Nvidia (NASDAQ: NVDA), as Finbold reported on May 26.
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