Crypto market update: Bitcoin surges to new all-time high

World’s largest cryptocurrency breaks $66,000 for first time on record

Bitcoin continued to trade above $66,000 on Thursday, having surged to an all-time high of $66,930 on Wednesday afternoon. 

The world’s first and largest cryptocurrency has risen in value by 37% since the start of the month, bolstered by increased interest by the financial mainstream. Tuesday saw the launch of America’s first Bitcoin exchange-traded fund, making the crypto more accessible to both retail and institutional investors. 

Having momentarily broken the $1.3trn threshold for the first time on record on Wednesday, Bitcoin’s market capitalisation stood at $1.24trn by 11:30 (BST), according to CoinMarketCap. At the same time, the crypto’s trading volume stood 31.8% higher than 24 hours previous at $48.4bn. 

While Bitcoin has led the way in recent days and weeks, Ethereum surged by 11.2% on Thursday to $4,289. The world’s second-largest cryptocurrency has risen by 50.7% in the past month and is now within touching distance of the $4,362 all-time high reached in May. 

Among the other prominent cryptos, Solana, Cardano and Litecoin enjoyed some of the largest gains, rising by 20%, 7% and 11.7%, respectively. 

Biggest gainer

Across the wider digital asset space, InfinitX saw the largest 24-hour price rise. The BSC Reward and Rebase token combining rewards in $XRP with a rebasing system, stood 816% higher at $0.00000004803. 

Biggest loser

Shrew (SHREW) suffered the largest loss, sinking by 88% to $0.0001353. The three-month old shopping reward token that seeks to facilitate payment services between merchants and customers has sunk by 93% since its July $0.001936 all-time high. 

All prices were correct as of 11:30 (BST).

Further reading: FCA takes to YouTube and TikTok to warn youth about cryptocurrency investing

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