There are now over 18,000 cryptocurrencies available on the market, each with its own value. The most popular and well-known cryptocurrency is Bitcoin, whose market capitalization currently sits at around $400 billion. Ethereum, the second largest cryptocurrency by market cap, is worth less than $200 billion. It is challenging to estimate the overall market size of all digital currencies, as there is no formal data source like there is for public equities markets.
Some ballpark estimates place the cryptocurrency markets at around $3 trillion in total. Not only do these digital assets facilitate the transfer of value, but each one also has different technical features that set it apart from the others.
