Global Market Cap Reaches $1.24 Trillion as Top 100 Cryptocurrencies Surge in Green

The top 100 cryptocurrencies listed on CoinMarketCap (CMC), excluding stablecoins, are paving the green as the global cryptocurrency market cap has gained more than $50 billion in just 24 hours. The upside comes as some assets are reaching milestones.

For example, the largest digital currency, Bitcoin (BTC), has crossed the $30,000 mark for the first time since June 2022. According to a crypto.news report, one of the main reasons for the bullish wave may be increased investor optimism.

According to CMC data, the biggest gainer over the past 24 hours has been the supply token (RNDR), with a gain of 16.6% in the mentioned time frame. The last gainer on the list is LEO, up 0.15% over the past 24 hours.

The upside comes as the global market cap of cryptocurrencies increased from $1.185 trillion to $1.241 trillion in less than 24 hours, according to data provided by CMC. However, total capitalization has seen a $5 billion decrease in the past eight hours and stands at $1.236 trillion at the time of writing.

According to CMC data, most digital currencies hit local highs around 02:00 UTC, when the global market capitalization was at a 10-month high.

Moreover, Michael Van de Poppe, founder and CEO of global trading firm Eight, expects the total market cap of cryptocurrencies to reach $2 trillion if it breaks the $1.25 trillion mark.

It’s not just the top 100 cryptocurrencies on the upside. Football fan tokens have also crossed the $370 million mark, with FC Barcelona Fan Token, BAR, leading the way with a market cap of around $45 million.