आईसीटी समाचार
According to figures released Monday, the global cryptocurrency market is now valued more than $3 trillion for the first time, as mainstream investors increasingly join on board. According to CoinGecko, which analyzes the prices of over 10,000 cryptocurrencies, the value has surpassed $3.007 trillion.
"The crypto industry is developing at a breakneck pace," SwissQuote analyst Ipek Ozkardeskaya said. "Of course, some of it is supposition, but some of it is actual," she told AFP. "Now that crypto is finding its way into regular finance, everyone is on board." Last month, Bitcoin, the world's most popular cryptocurrency, reached a new high of $66,000 after taking another step toward general acceptance. After a 5% increase, it climbed again beyond $66,000 on Monday, close to its all-time high.
On Monday, Ethereum, the second most valuable cryptocurrency by market capitalization, reached a new high of $4,768. In October, the New York Stock Exchange introduced a Bitcoin futures exchange-traded fund, a sort of financial instrument. The ETF is a more accessible vehicle that makes Bitcoin more accessible to a wider range of investors. Cryptocurrencies are seen by some investors as a hedge against inflation, which is growing globally when economies reopen following epidemic lockdowns.
"Bitcoin is rising higher again, near to all-time highs," Susannah Streeter, a market analyst at Hargreaves Lansdown, said on Monday. "Partially, the current spike in cryptocurrency appears to have been prompted by investors coming in, considering it as a hedge against inflation," Streeter continued. Only 21 million Bitcoins may be generated, allowing it to trade well above its competitors. However, cryptocurrency trading in general has shown to be very unpredictable, with significant price fluctuations occurring often.
