What some say is behind cryptoโ€™s record rally to $3 trillion, as bitcoin hits new high

The total cryptocurrency market surpassed $ 3 trillion on Monday, for the first time, according to data from CoinGecko. The market capitalization of the crypto market has gained more than 280% since the beginning of this year.

That rally in cryptocurrencies has been fueled, at least in part, by a surge in Ethereum, which rose to an all-time high on Monday, trading near $ 4,800. Meanwhile, bitcoin gained around 5.9% in the last 24 hours, recently trading at $ 67,238, a new high.

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