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Today’s Cryptocurrency Headline
According to CoinGecko, the total value of the global cryptocurrency market has surpassed $3 trillion so far, tripling that of early January, when it first topped $1 trillion, and continuing to reach an all-time high. Bitcoin accounted for 41.5% of that total. Ethereum accounted for 18.7%. The total value of the global cryptocurrency market topped $1 trillion in January, when Bitcoin accounted for 67 percent.
Bingbon’s Bitcoin Chart
Bitcoin and Ethereum hit record highs on Tuesday as enthusiasm for wider adoption of cryptocurrencies and inflation concerns underpinned the asset class. BTC price traded as high as $67,803. ETH price hit $4,825 and both assets are entering a rising channel.
Bitcoin inflows totaled $95 million last week, making it the largest of any digital asset, according to CoinShares. During Bitcoin’s eight-week bull run, inflows totaled $2.8 billion. Data through November 5 showed inflows of $174 million into overall cryptocurrency products and funds, the 12th consecutive week of inflows from institutional investors.