Bitcoin, the world's largest cryptocurrency, hit a record high of $ 66,000 last month after taking another step towards mainstream status.
The global cryptocurrency market is worth more than $ 3 trillion for the first time, according to Monday's calculations, as top investors join more and more.
The value has reached $ 3.007 trillion (2.6 trillion euros), said CoinGecko, which tracks the prices of more than 10,000 cryptocurrencies.
"The cryptocurrency market is growing at an amazing speed," noted SwissQuote analyst Ipek Ozkardeskaya.
"Part of it is speculation, of course, but part of it is real," he told AFP.
"Cryptocurrencies are now making their way into traditional finance and everyone is on board."
Bitcoin, the world's largest cryptocurrency, hit a record $ 66,000 last month after taking another step towards mainstream status.
It rose again above $ 66,000 Monday near its all-time high after a five percent jump.
Ethereum, the second largest cryptocurrency by market value, hit a record $ 4,768 on Monday.
An exchange-traded fund for bitcoin futures, a type of financial instrument, launched on the New York Stock Exchange in October.
The ETF is a more accessible vehicle that puts bitcoin within the reach of even more investors.
Some investors see cryptocurrencies as a hedge against inflation, which is on the rise around the world as economies reopen after pandemic locks.
"Bitcoin is bouncing higher again near all-time highs," Hargreaves Lansdown market analyst Susannah Streeter said on Monday.
"The recent rise in cryptocurrencies ... in part appears to have been caused by the backlog of investors, viewing it as a hedge against inflation," Streeter added.
No more than 21 million bitcoins can be created, which helps its price trade well above its rivals, but cryptocurrency trading in general has proven to be extremely volatile and massive price swings are common.
