Ethereum climbs to new record; total crypto market cap approaches $3T By Investing.com – Investing.com

Ethereum climbs to new record; total crypto market cap approaches $3T By Investing.com – Investing.com

By Samuel Indyk

Investing.com – The price of hit a new record high on Monday morning, breaching $4,700 for the first time, following a weekend surge in major cryptocurrencies. The total market capitalisation of all cryptocurrencies is approaching $3 trillion.

The rally in Ethereum comes amid a surge in interest for networks with decentralised finance (DeFi) applications and smart contracts. A boom in interest of non-fungible tokens (NFTs) and the size of the potential market is also supporting Ethereum and other coins with similar functionality, including and .