Fueled by the recent surge of the Bitcoin price, the total crypto market cap is just shy of reaching $200 billion, an absolute all-time high. Bitcoin dominates the crypto sphere with 61% or $122 billion of market cap, followed by Ethereum with $28.5 billion or 14% of the total crypto pie.

Just a quick reminder: on September 15, the total crypto market capitalization barely kept above $100 billion. In just one and a half month, the crypto market cap doubled in value.

The total market cap shows the value or size of all cryptocurrencies in circulation. It’s a sum of the products between the price of respective coins and their circulating supply.

Total Market Cap = ∑ Price × Circulating Supply (for all coins)