Markets
Crypto market: capitalization brought down to around 2,48 billions of euros as of 9 October 2026
The total capitalization of crypto‑assets falls to around 2,48 billions €, a decrease of about 34% year‑on‑year, despite Bitcoin and Ethereum prices remaining high in absolute terms. This decline reflects a marked disengagement from the riskiest segments and reshuffles the debate on the sector’s systemic risks.
As of 9 October 2026, the aggregate capitalization of the crypto‑asset market is estimated at around 2,48 billions € (2,78 billions $), according to historical market data. One year earlier, it stood at about 3,77 billions € (4,24 billions $). This contraction of about 34% occurs while the main cryptocurrencies, led by Bitcoin and Ethereum, remain at still‑elevated price levels, suggesting an internal market reconfiguration rather than a uniform collapse of all digital assets.
Over the same period, Bitcoin trades around 73 271 € (approximately 81 974 $ according to available estimates, with a reference of 82 327 $ for 73 271 €). Ethereum exchanges around 2 216 € (about 2 490 $), in line with the communicated reference. These price levels, high in absolute terms, contrast with the decrease in overall capitalization. They reflect a growing concentration of value in the leading assets, to the detriment of more peripheral crypto‑assets.
The drop from 3,77 to 2,48 billions € in total capitalization is mainly explained by a relative disengagement from smaller‑cap altcoins, historically more volatile. Market cap data show that, despite the resilience of Bitcoin and Ethereum, the “long tail” of tokens now plays a less decisive role in the overall market size. This development mechanically reduces the weight of the most speculative sectors, while leaving the role of large caps in the ecosystem intact.
For European regulators and financial institutions, the order of magnitude of 2,48 billions € in capitalization remains significant in view of potential systemic risks. Even after a contraction of about one third in a year, the crypto‑asset market now amounts to a sum comparable to that of certain large asset classes or segments of the bond market. This financial mass reinforces the need for ongoing prudential monitoring, without presuming a direct risk to overall financial stability.
This decline occurs in a context where authorities are attempting to more tightly frame the exposure of financial intermediaries to the crypto sector. The rotation out of the riskiest altcoins could be interpreted as an adjustment in investors’ risk tolerance, rather than a complete rejection of the digital asset as an investment class. That said, the persistence of high levels for Bitcoin and Ethereum continues to fuel debates about fair valuation and the place to give these assets in diversified portfolios.