Cryptocurrency prices have surged in the last few weeks, causing the total market capitalization of these digital assets to climb more than 50% from their recent low.
After falling to less than $98 billion roughly halfway through September, the total market cap of these currencies surpassed $150 billion on October 2, according to CoinMarketCap.
Tha flagship of cryptocurrencies — Bitcoin (TIKER: BTC.EXANTE) alone has topped $1.3B in daily trade volume.
Upon reaching its daily high of $150.6 billion, this total market cap had risen more than 54% from its recent low, additional CoinMarketCap figures show.
Analysts point to different factors behind these impressive gains — natural recovery, buying the dip, growing interest.