The value of the global cryptocurrency market has exceeded $3 trillion as Donald Trump’s election as U.S. President fueled speculation that favorable U.S. regulations could spark a new boom across all segments of this asset class.
The combined market value of cryptocurrencies reached a peak of nearly $3.2 trillion on November 14 in Asia, based on data from analytics and aggregator CoinGecko.
Bitcoin dominates the crypto market, and this milestone in total market value coincided with the surge in Bitcoin’s price to a record $93,480.
Bitcoin’s price has doubled this year, rising 30% following the U.S. election.