The market value of all #cryptocurrencies has jumped by about $847 billion since the beginning of this year to reach $1.67 trillion, supported by a 160% rise in the value of #Bitcoin, according to the “CoinMarketCap” website.
The gains that dominated the cryptocurrency market this year are largely due to optimism regarding the approval of regulatory bodies in #America to launch exchange-traded funds that invest in the largest cryptocurrency by market capitalization #Bitcoin.
Speculators in the rise of cryptocurrencies expect demand to witness a sudden boost after this approval, which is likely to occur by next January 10.
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