Cryptocurrencies are breaking records

Cryptocurrency markets have witnessed great momentum since the beginning of this year, as Bitcoin achieved increases of more than 66% in the first quarter of 2024, and the currency recorded record levels in March after breaching the record level recorded in 2021 at $69,000, and in recent weeks it approached… Levels of $74 thousand.

The market value of cryptocurrencies is close to touching $2.8 billion, and “Bitcoin” still dominates the market with a share of up to 52% of the total, followed by “Ether” at 16%, and then the stable currency “USDT” at 4%.

Trading volumes on ETFs were record and the fastest growing in the history of traded funds, and this demand coincides with the approaching date of the halving process in April, which will contribute to a decline in supply and a significant increase in demand by institutions. (Al-Arabiya)