Bitcoin hits new record as crypto market cap exceeds $3 tln
Bitcoin and ether made record peaks in the Asia session on Tuesday as enthusiasm for cryptocurrency adoption and fears about inflation leant support to the asset class.
Bitcoin rose as far as $67,700 and ether , the second-biggest cryptocurrency by market value, hit $4,800. Both have more than doubled since June and added nearly 70% against the dollar since the start of October.
The moves helped lift the total market capitalisation of cryptocurrencies above $3 trillion, according to crypto price and data aggregator CoinGecko.
Bitcoin inflows hit record high so far in 2021 -CoinShares data
Inflows into bitcoin products and funds have hit a record $6.4 billion so far this year, data from digital asset manager CoinShares showed, as investors bought the cryptocurrency on more widespread government acceptance and positive momentum.
Bitcoin inflows totalled $95 million last week, representing the largest inflows of all digital assets, while inflows during an eight-week bull run for the cryptocurrency were $2.8 billion, the CoinShares data showed on Monday.
Overall cryptocurrency products and funds posted inflows of $174 million, CoinShares data as of Nov. 5 showed, in a 12th consecutive week of flows from institutional investors.
Investors also poured $31 million into Ethereum products and funds last week. Although Ethereum’s market share has declined in recent months as bitcoin’s dominance has grown, a recent combination of positive price performance and strong inflow pushed its assets under management to a record $20 billion.
Reference: Reuters
Thai
Eng