Crypto Assets total market capitalization hits a new high, Bitcoin breaks $89,000

Driven by the soaring price of Bitcoin, the total market capitalization of global crypto assets reached a historic high of $3.11 trillion on November 12, with a 6.8% increase within 24 hours. This figure surpasses the previous record of $3.069 trillion set on November 9, 2021. Currently, Bitcoin holds a 56.3% share of the crypto assets market, while Ethereum accounts for 13%.

A publicly listed company significantly increases its holdings of Bitcoin

On the evening of November 11, after a technology company listed in the United States announced a large purchase of Bitcoin, the price of Bitcoin began to rise rapidly. Starting from $82,000, the price continued to climb, reaching a new high of $89,000 by 7 AM the next morning.

The company announced that between October 31 and November 10, they purchased 27,200 Bitcoins, with a total investment of approximately $2.03 billion, at an average purchase price of about $74,463 per Bitcoin. This funding came from the company’s stock sales activities. Currently, the company holds a total of 279,420 Bitcoins, with a total investment cost of about $11.9 billion, at an average purchase price of approximately $42,692 per Bitcoin. Based on the latest Bitcoin price of $89,000, the company's Bitcoin holdings have an unrealized profit of about $12.9 billion.

The company's stock price also reached a new high of $340 at the close on November 11, with a single-day increase of 25.73%. A well-known ETF analyst pointed out on social media that the company's trading volume hit a record of $12 billion that day, which is six times the trading volume of some large financial and industrial companies.

As the price of Bitcoin rises, the entire Crypto Assets market is generally on the rise. Currently, the global Crypto Assets market capitalization is about $3.11 trillion, increasing by 6.8% in the last 24 hours. The trading volume of Crypto Assets in the past day is approximately $355.68 billion.

The issuance of stablecoins has increased, and analysts remain optimistic.

As the market enthusiasm rises, a major stablecoin issuer has also increased its supply.

At around 01:07 Beijing time on November 12, the institution issued 2 billion stablecoins on the Ethereum network. The CEO of the institution stated that this is an authorized but yet-to-be-issued transaction that will be used for future issuance needs and on-chain swaps. According to statistics, the total supply of stablecoins has increased by 4.776 billion USD last week.

Many financial analysis institutions remain optimistic about the Crypto Assets market. An analyst from a well-known investment bank released a report after the US elections, encouraging investors to increase their investments in the encryption industry as soon as possible. The report predicts a potentially more favorable policy environment for the encryption industry in the future.

The report suggests that investors pay attention to spot Bitcoin and Ethereum ETFs, publicly listed Bitcoin mining companies, enterprises holding Bitcoin, and Crypto Assets trading platforms. Analysts expect Bitcoin to potentially reach $200,000 by the end of 2025 and recommend that investors buy major digital assets such as Bitcoin, Ethereum, and Solana.

The research director of another international bank also predicts that Bitcoin will continue to rise and may "easily reach" $100,000 by the end of the year. He further predicts that, given the recent strong performance of Ethereum and Solana, the price increase of Bitcoin could drive the entire market up, with some tokens possibly even outperforming Bitcoin.

A crypto fund management organization pointed out in its latest report that as the results of the U.S. election became clear, the U.S. stock market surged, with traders betting that a tax cut and low interest rate environment would boost American corporate profits. Against this backdrop, Bitcoin ETF saw a net inflow of $1.728 billion in one week, while the stablecoin channel had an inflow of $4.776 billion in the same week, totaling $6.504 billion, setting a record for the largest weekly inflow since 2024. The report believes that driven by strong capital inflows, the price of Bitcoin is expected to continue rising, and other crypto assets may also generally increase.