Photo: Coin Telegraph
(Coin Telegraph) - Growing institutional interest in Bitcoin (BTC) helped elevate the top cryptocurrency to a new record high on Feb 9 and led to a total market cap value higher than the market cap of the Russian ruble.
Data from Coin Telegraph Markets and Trading View shows Bitcoin established a new all-time high of $48,220 in the early hours on Tuesday and has since pulled back to $47,092, marking a 9.24% increase over the past 24-hours.
Altcoins gather momentum as multiple tokens see new highs
Altcoins pushed higher as Bitcoin price consolidated in preparation for what could be a move toward $50,000.
Following the launch of Chicago Mercantile Exchange (CME) Ethereum future contracts, Ethereum's price surged to a new high at $1,825.
Meanwhile, Litecoin futures have also seen a surge in activity with a record $584 million in open interest, indicating that the altcoin is attracting the attention of institutional investors.
Read more from the original article here.
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