The value has reached $3.007 trillion (2.6 trillion euros), said CoinGecko, which tracks prices of more than 10,000. cryptocurrency.
“NS crypto The market is moving at a mind-boggling pace,” noted Swissquote analyst Ipek Ozkardetskaya.
“Part of it is of course speculation, but part of it is real,” she told AFP.
“Crypto is now making its way to traditional finance and everyone is on board.”
Bitcoin, the world’s largest cryptocurrency, hit a record high of $66,000 last month after taking another step towards mainstream status.
It surged above $66,000 near its all-time peak on Monday after a five percent jump.
Ethereum, the second largest cryptocurrency by market cap, hit a record high of $4,768 on Monday.
A bitcoin futures exchange-traded fund, a type of financial instrument, has been launched New York Stock Exchange In October.
ETFs are a more accessible vehicle that puts bitcoin in the grasp of even more investors.
Some investors see cryptocurrency as a hedge inflation, which is rising around the world as economies reopen after pandemic lockdowns.
Hargreaves Lansdowne Market Analyst Susanna Streeter said on Monday: “Bitcoin is on the rise again, nearing all-time highs.”
“The recent surge in crypto… seems to be partly due to investors piling up, seeing it as a hedge against inflation,” Streeter said.
No more than 21 million bitcoins may be created, allowing its price to trade above its rivals, but trading cryptocurrencies in general is highly volatile and massive price fluctuations are a common occurrence. .