Bitcoin, the world’s largest cryptocurrency, surged to a lifetime high of $67,922, continuing the rally that began in October. Thanks to this rally, the market cap of the cryptocurrency market surged over $1 trillion in just a month to $3 trillion.Ether, the number 2 cryptocurrency, also notched a lifetime high of $4,800, rising over 2 percent, according to data from CoinGecko. This surge follows the reports that showed the Ethereum network burned more coins than it issued last week.Meanwhile, the concerns around Ethereum’s scalability and high transaction fees continued to drive attention to tokens like Solana and Polkadot. Both the coins have risen over half a percent in the past 24 hours. Solana has rallied over 21 percent in the last week.Cardano also jumped nearly 5 percent Tuesday morning, rising over 10 percent over the past 7 days. Ripple XRP has also enjoyed a rally of over 15 percent in the last week.Dogecoin surged nearly 6 percent Tuesday morning, taking the weekly gains to 6 percent. The coin has clocked muted gains in the past few days. Shiba Inu, the 11th largest coin by market cap, also surged 3 percent.
A. Top 10 cryptocurrencies by market cap
| Cryptocurrency | Current market price | 24-hour change |
| Bitcoin | $67,711 | 3.89% |
| Ether | $4,794 | 1.65% |
| Binance Coin | $650 | 2.40% |
| Solana | $247 | 0.55% |
| Tether | $1 | -0.07% |
| Cardano | $2.14 | 4.88% |
| XRP | $1.28 | 1.10% |
| Polkadot | $53.09 | 0.59% |
| Dogecoin | $0.2855 | 5.87% |
| USD Coin | $0.99 | 0.05% |
B. Top crypto news updates
Cryptocurrency market cap crosses that of Microsoft, Apple
The market cap of the crypto market topped $3 trillion Monday. If we compare this with the tech companies, the crypto market has left behind the likes of Microsoft ($2.5 trillion) and Apple ($2.4 trillion).
Bitcoin inflows hit record high so far in 2021
Inflows into bitcoin products and funds have hit a record $6.4 billion so far this year, data from digital asset manager CoinShares showed, as investors bought the cryptocurrency on more widespread government acceptance and positive momentum. Bitcoin inflows totalled $95 million last week, representing the largest inflows of all digital assets, while inflows during an eight-week bull run for the cryptocurrency were $2.8 billion, the data showed.
Centre unlikely to ban Bitcoin, may not make it legal tender either
The Centre is not planning to ban Bitcoin in view of large investments in such instruments by Indians. However, a final call on the contours of …….