Crypto market cap hits new all-time high, but instability looms

Key Points

1. The cryptocurrency market cap reached nearly $4.15 trillion, surpassing the previous high set in July, though it has since slightly declined to $3.96 trillion.

2. Bitcoin and Ethereum are leading the market, with Ethereum crossing the $4,000 threshold and surging to $4,351.7, nearing its all-time high of $4,891.7 from November 2021.

3. Publicly-traded companies like SharpLink have added substantial amounts of Ethereum, with 64 corporations holding around 3.49 million ETH (valued at $15.05 billion), representing 2.89% of its total supply.

4. Analyst Andrei Grachev notes that the current market surge lacks stability, with fast capital rotation across reward programs and speculative assets, and a drop in Bitcoin's market share from 65% in June to around 61%.

5. Pro-crypto policies, such as U.S. President Donald Trump's crypto-friendly executive orders, are boosting market sentiment despite the lack of fundamental support for the growth.