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Crypto Market Hit All-Time High As Bitcoin, Ethereum, Solana Rise

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Ethereum hit an all-time high on November 3, 2021, pushing the crypto market to an all-time high (Getty Images)

The crypto market hit an all-time high after Ethereum and several other major cryptocurrencies hit all-time highs on Wednesday.

The global market is now worth more than $ 2.75 trillion, according to the CoinMarketCap price index, making it more valuable than the richest companies in the world.

To follow The independentlive coverage of the crypto market

Ethereum’s record rally saw it surpass $ 4,600 for the first time in its history, with a market cap approaching $ 550 billion.

That puts it above JPMorgan Chase, the world’s largest bank by market cap, as well as payments giants like Visa, Mastercard and PayPal.

Cryptocurrency has been driven by an increase in the popularity of NFTs (non-fungible tokens) and decentralized applications (dapps), which are supported by the underlying Ethereum blockchain.

These technologies are also expected to become even more popular in the future, with tech giants like Meta (formerly Facebook) developing online metavers where people could store and perform NFT transactions.

Bitcoin did not hit a record high price, but has risen over 3% in the past 24 hours and is currently trading above $ 63,000 – less than $ 4,000 from the all-time high reached in October.

Several leading crypto analysts are forecasting a solid end to 2021, with a popular price prediction model putting bitcoin on track to hit six digits before the end of the year.

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