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For a fleeting moment, the total crypto market cap exceeded that of Saudi Aramco.
In the middle of yet another positive trend on cryptocurrency exchanges, global crypto market capitalisation has reached a fresh historical peak of just under $2 trillion.
According to data from major crypto tracking platforms such as CoinGecko and CoinMarketCap, the combined market cap of all cryptocurrencies reached $1.9 trillion on March 31. Earlier in the day, the global market value touched a new all-time peak of $1.99 trillion.
Following a subsequent correction, the total crypto market cap has slipped slightly, dropping to $1.89 trillion at the time of writing.
In hitting its new historical high, the total crypto market capitalization has overtaken the market cap of oil and gas giant Saudi Aramco, the world’s second most valuable company by market cap after Apple. According to data from TradingView, Saudi Aramco’s market cap amounts to about 7 trillion Saudi riyals, or $1.86 trillion at the time of writing.
Since exceeding the market capitalisation of Google shares at more than $1.4 trillion in February, the overall crypto market cap has continued to outperform the world’s biggest corporations, including Amazon and Microsoft. Amazon and Microsoft had market capitalizations of $1.5 trillion and $1.7 trillion, respectively, at the time of writing.