The global cryptocurrency market has surpassed $3 trillion, propelled by anticipation for softer US rules post-Trump.
SINGAPORE:
The global cryptocurrency market has surpassed $3 trillion in value. As the election of Donald Trump as US president fueled speculation that looser US regulations might usher in a fresh boom for all segments of the asset class.
The total market value of cryptocurrencies reached a peak of about $3.2 trillion early on November 14 in Asia, according to analytics and data aggregator CoinGecko, and was last just shy of that level.
That takes it above the golden days of 2021, when pandemic-era stimulus boosted speculative investments, and represents a rebound from only a few months ago, when cryptocurrency values and turnover had flatlined.
Read more: SEC Chair Firm on Crypto Amid Trump’s Removal Threat
Bitcoin news updates